What Can NJ Sports activities Betting Be taught From UK Withdrawal Ban?
The British Gambling Commission (UKGC) recently banned Undo withdrawals This could have an impact on US regulators, particularly the sports betting market in New Jersey.
The UKGC said earlier this month that all UK online gaming providers must stop offering the feature October 31.
A reverse withdrawal allows players to void a withdrawal before it is processed so they can continue playing with the money.
“There is evidence that reverse withdrawals are putting players at risk as they are tempted to keep playing,” the UKGC said.
The commission said reverse withdrawals were a flag of potential gambling damage. This view is backed by “academic research, real experience and expert advice,” added the commission.
NJ DGE will look closely
Of course, the topic is particularly relevant to that New Jersey Division of Gaming Enforcement (DGE).
In a recent investigation, the DGE found that certain operators had unnecessarily delayed withdrawals and offered bonuses for withdrawing them. The New Jersey sports betting regulator said these practices were unacceptable and operators could face fines, but refused to disclose which operators were accused of the practice.
However, it was said that reverse withdrawals were okay by themselves unless there was an incentive to do so. Could this attitude change if one of the world’s leading gambling regulators banned it completely?
Activists have suggested a middle ground, such as allowing players to protect themselves from withdrawal.
The UK is focused on responsible gambling
In the UK, the new policy is just one of many major changes as regulators aim to make gambling safer. The UKGC has also ordered Online slots be redesigned more slowly and without autoplay.
Elsewhere, according to The Times, the UK government is considering a general ban on sports betting jerseys sponsorship. Senior politicians are reported to be concerned about the spread of gambling addiction.
Interestingly, the clampdown comes at a time when sponsorship is booming in US sports.
US sports betting issued $ 397 million on marketing agreements in major US sports leagues since PASPA was repealed GlobalData.
If the UK has something to offer, that kind of flash of advertising could bring reckoning in the future.