UK Gambling Commission delays decision on FRAs

UKGC postpones financial risk assessments decision

Added:
UKGC postpones financial risk assessments decision

After a board meeting on May 21, the UK Gambling Commission announced that it will be postponing the final decision on the implementation of affordability checks in the form of financial risk assessments.

The goal of the FRAs is to introduce harm-prevention tools and identify risky gambling behavior as part of the UK’s Gambling Act white paper reforms of 2023. The commission has also stated that the checks aren’t designed to restrict spending, as the government is looking to only flag vulnerable players and support those experiencing financial issues.

A spokesperson from the UKGC commented:

“The Gambling Commission Board met yesterday to consider next steps on Financial Risk Assessments. It was presented with extensive evidence base but has not yet fully completed its assessment of that evidence. We will communicate further in due course.”

During the trial period, FRAs were triggered when users deposited more than £1,000 in 24 hours or £2,000 during 3 months, but some reports have indicated that even in cases with lower deposits, players were required to prove their financial capacity, which led to criticism from industry stakeholders. Just days before the board meeting, the BGC threatened to legally challenge the UKGC over the affordability checks.

Additionally, a group of Parliament Members sent a letter to the Secretary of State for Culture, Media, and Sport, Lisa Nandy, stressing that the measure would hit the horse racing industry and push players towards the illegal market.

A clear timeline for announcing the final decision on the affordability checks hasn’t yet been set by the UKGC.

Alla Basentsyan
Alla Basentsyan Content Writer

As a content writer at AffPapa, Alla focuses on daily coverage of iGaming news, writes in-depth articles on the most relevant topics of the sector, and presents insights from industry professionals through dedicated interviews. She combines her background in research with an engaging and informative approach to help readers stay up-to-date with everything that’s happening in global iGaming markets.

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