Current levels of competition in the online casino market mean that players often benefit from interesting bonuses. Yet, British regulators recently decided to urge casinos operating there to improve their promotions.
The move comes after the Competition and Markets Authority (CMA) intervened and put pressure on a number of betting firms. In fact, all online casinos operating in the UK are expected to make the same changes soon.
How Do Casino Promotions Work?
Virtually every internet casino offers incentives for new players to join up. This will often be in the form of a cash match offer. For instance, a new player’s first ever deposit is doubled at the likes of Royal Panda Casino and 777 Casino.
Another common type of casino promotion is that which offers free spins on slots games. In this case, we can see on Freespins Fever that current deals include 100 free spins upon first deposit at Mr. Green Casino and 120 free spins at the Leo Vegas Casino.
In some cases, the casino will offer a combination of free spins and a cash match offer. They may also offer the welcome bonus on the player’s first few deposits rather than just on the very first one.
What Is to Be Changed?
The issue that was picked up by the CMA is that some casinos lock in this free money. This is because they set a requirement that the player has to play through their winnings a set number of times in order to release the money.
The CMA said that this approach can “trap money” in the site. Because of this, they have urged changes. The Gambling Commission worked with the CMA on this case, in addition to their recent condemnation of unacceptable outfits at betting trade shows. Their executive director Sarah Gardener said that, “gambling firms must treat their customers fairly”.
A statement from Ladbrokes Coral welcomed the move towards greater transparency and said that, “things had unintentionally gone too far”. A William Hill statement pointed out that they “welcome the standards and principles that the CMA has outlined”.
The New Approach
The first new requirement that has been stipulated is that casino players shouldn’t have to play through numerous times in order to withdraw their own money. They also shouldn’t have to take part in promotions to be able to collect their winnings.
In addition, gambling sites need to make completely clear what the terms of their promotions are. They can’t print vague terms and conditions that the public might not understand.
The Gambling Commission pointed out that apart from those firms mentioned earlier, the entire UK gambling industry will need to “promptly” make similar changes to their promotions. Any company that doesn’t comply with this ruling will “face regulatory action”.
It is reported that guidance will be produced later on in the year to show the operators of casinos and other betting sites how to comply with this guidance. In the meantime, players are urged to check the details before taking advantage of any online promotion.