UKGC outlines new corporate strategy

UKGC outlines new corporate strategy

UKGC outlines new corporate strategy
The UK Gambling Commission (UKGC) continues to push forward as the regulator has now outlined its corporate strategy for the years 2024-2027, hoping to ensure that the watchdog keeps a firm hand on the rudder as the market navigates towards choppier regulatory waters. With the implementation of the Gambling Act Review now looming, a central focus will be paid to five strategic initiatives as outlined by the UKGC. Among them is the use of big data to ensure that any future actions vis-à-vis regulating the market will be made based on analytics and data, and thus help improve the core tenets of the market. Similar to what the French Gambling Authority is calling for, the UKGC is expecting licensees to be proactive and ensure that they intervene early in cases of harm, run strong risk assessments, and ensure that vulnerable individuals are cared for. The strategy was outlined during a meeting which was attended by Andrew Rhodes, the UKGC’s Chief Executive Officer, who said that future efforts will lie in clarifying regulations and ensuring that consumers are protected. Rhodes said: “Our objective is to be the authoritative voice on evidence and data, to tackle misinformation, delve into the facts, and help bring about improved outcomes for the public.” A fifth strategic initiative has to do with regulating a successful National Lottery, which is increasingly important to the UKGC. Part of the data strategy will see the creation of tools, skills, and technology that specifically have to do with enhancing various capabilities. There will be an emphasis on automation that should in theory enable licensees and the regulator to track beyond-fault consumer behavior, identify issues early on and have the opportunity to intervene insofar as customers are concerned. The regulator is already working with such algorithms and tools, including the Gambling Survey for Great Britain, which is designed to strengthen the regulator’s understanding of current market trends and better address shortcomings. Image credit: Unsplash.com

10 APR 2024

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