Gambling Commission issues warning to operators over withdrawal restrictions
The Gambling Commission has issued a warning to operators after the Competition and Markets Authority (CMA) forced two betting firms to remove unfair withdrawal restrictions.
Previously, Jumpman Gaming and Progress Play made customers withdraw money in instalments over an extended period, as opposted to letting them withdraw winnings straight away.
The operators also had a policy in place to confiscate money from players’ accounts if they did not log in for a certain amount of time.
Following the CMA’s investigation, however, both Jumpman Gaming and Progress Play have formally agreed to remove these terms and conditions.
In response, the Gambling Commission has emphasised the need for other businesses to protect players.
As of 31 October this year, companies that break advertising rules or breach consumer law will face tougher action from the regulator.
Neil McArthur, Gambling Commission Chief Executive, said: “Protecting the interests of consumers is a priority for us and needs to be a priority for gambling operators.
“These changes will protect consumers from irresponsible advertising and misleading promotions, ensure that they can withdraw their money more easily, and will mean that firms have to deal with complaints more swiftly.”
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