The UK Gambling Commission (UKGC) has sent an open letter to its licensed operators warning them of the risks to integrity of offering novelty markets. The UKGC has warned operators that do not comply with the requirements for ensuring integrity that they will have their licenses reviewed.
The letter from the UKGC was sent by the program director for enforcement and intelligence at the UKGC, Richard Watson, who said that the reports “appear to have originated from the operators themselves who purport to have either over-exposed their liability or identified integrity concerns tenuously linked to the program or event.”
The television shows that specifically cause concern are those that are pre-recorded such as Great British Bake Off and Strictly Come Dancing, as well as other novelty bets.
“In a world of social media and rapid communication, the outcome of these markets is likely to be known to an ever-expanding group of consumers before the result is formally announced,” stated Watson.
Watson explained that all operators must demonstrate management of any risks that are associated with these betting markets to ensure they comply with the licensing requirements.
“As outlined in our statement of principles for licensing and regulation, amongst other things, we expect operating license holders, those occupying senior positions within licensed operators and Personal Management License holders responsible for marketing to conduct their business with integrity, organise and control their affairs responsibly and effectively and have adequate systems and controls to keep gambling fair and safe,” continued the letter from Watson.
“If we become aware that these standards are not being met, we will commence license reviews with a view to exercising our formal regulatory powers on both the operator and the Personal Management License.”