The UK Gambling Commission has revealed its corporate strategy for the next three years up to 2024.
Its strategy shows a lot of similarities to the 2018-2021 strategy, though there are a few notable changes.
In addition to its three-year corporate outlook, the regulator has also published its 2021-2022 business plan.
What’s included in the UKGC’s corporate strategy?
In its new strategy, the UKGC has outlined five key focus topics. These are:
- Protecting children and vulnerable people from gambling-related harms;
- Ensuring a fairer market where customers are better-informed;
- Keeping crime away from gambling;
- Improving gambling regulation;
- Optimising the National Lottery’s charitable donations.
The strategy is similar to the 2018-2021 version, which included areas of focus like raising gambling market standards and protecting the public. Primarily, the differences relate to more of a focus on reducing crime and improving protection for youngsters and vulnerable individuals.
The 2021-2022 business plan
Changes have also been made to the 2021-2022 business plan, which were forced as a result of the pandemic.
Between this month and next March, the UKGC wants to:
- Deliver effective and high-quality competition for the next National Lottery licence, while keeping up the existing licence’s performance;
- Ensure operators comply with increased player protection measures.
The Commission also said that various stricter measures have been justified even more by data related to COVID-19.
- Incorporating more stringent affordability checks;
- Restricting bonus offers;
- Banning reverse withdrawals.
According to the UKGC, consumer trust in gambling fell to 29% in 2020. This was a record low and pointed to a significant decline from the 49% from 2008.
UKGC Chairman Dr. William Moyes said:
“We want a fair and safe gambling market where all consumers and the interests of the wider public are protected.
“Our mission is to make gambling fairer and safer. We do that by licensing and regulating in the public interest and providing advice and guidance.”
34% of UKGC income will come from betting, the regulator predicts. Meanwhile, it expects that a further 28% will be derived from casino gaming.
The Commission expects that 12% will come from software, with 8% from machines, lotteries and arcades each. 4% is planned to come from bingo.
In terms of costs, the regulator expects that staffing will take up 73%. The remainder will be divided between other areas, such as IT, admin, research, professional fees, and recruitment and training.