Last updated on March 31st, 2020 at 08:22 pm
The Gambling Commission named gambling charities that operators need to make a yearly financial contribution. The charities help in the prevention and treatment of problem gambling in the UK.
The charities named by the UKGC are GambleAware, Young Gamers and Gamblers Education Trust, and GamCare. Also, the requirement took effect on January 1. It will be part of the operators licensing conditions. Also, the contributions should be for research, prevention, and treatment of problem gambling.
Companies need to make sure they have no connections with the charity. Also, the Gambling Commission didn’t specify the amount that they need to donate. The UKGC told sportsbook pay per head reviews and news sites that companies can continue to donate to any charity that is not part of the list. However, those donations will not count as LCCP RET contributions, according to a Bwager report.
Gambling Commission and RET Contributions
Organizations that want to be part of the list must submit their information to the UKGC. Then the agency will assess their suitability to be part of the program. Last summer, GVC Holdings, Stars Group, Bet365, Flutter Entertainment, and William Hill agreed to increase their voluntary donations from 0.1 percent to 1 percent of their gross gaming revenue in the next five years.
Gambling operators need to comply with the RET contributions requirement if they want to retain their licenses in the UK. Funding the three charities will help people at risk. Operators need to report their contributions to the UKGC that includes the number of their donations and which organization they gave them. Donating to a charity in Raymond Cruz Costa Rica will not count.
To start a bookie business in the UK, you need to comply with all the requirements of the UKGC. Failure to comply with even a single condition will lead to your disqualification. UKGC has been strict with its requirements and that’s why you need to know all of them while learning how to become a bookie in the UK.