Operators ordered to update fund withdrawal policies
UK punters will be able to withdraw funds more easily in the future after the Competition and Markets Authority (CMA) ordered two online gambling companies to update their policies, while the Gambling Commission warned operators to “take immediate action” or face the consequences.
Jumpman Gaming and Progress Play will remove terms and conditions that had stopped players from taking out all of their own money in a single transaction.
Some customers of the brands had previously been forced to withdraw funds in instalments over an extended period, according to the CMA.
Both Jumpman Gaming and Progress Play have agreed to drop these practices and also stop using terms that enabled them to confiscate money from players’ accounts due to inactivity.
In addition, Progress Play has agreed to no longer confiscate players’ money if they do not meet identification check criteria within a certain period.
The announcement comes after the CMA, in collaboration with the Gambling Commission, carried out in-depth investigation into unfair practices and terms and conditions across the gambling industry.
The CMA expects other firms to follow Jumpman Gaming and Progress Play in changing their policies in the near future.
George Lusty, senior director for consumer protection at the CMA, said: “People choosing to gamble online should be able to walk away with their own money whenever they want to.
“Jumpman Gaming and Progress Play are the first to commit to scrap their unfair withdrawal rules, but we expect companies across the sector to follow suit so no-one gets caught out with unfair terms and conditions when gambling online.”
The UKGC has thrown its full support behind the initiative, saying operators that do not remove unfair restrictions will face action from the regulator.
Paul Hope, executive director at the UKGC, said: “We are committed to raising standards for consumers in the gambling sector to ensure they are getting a fair deal. We’ve already been working with the CMA to tackle unfair online gambling promotions, and today’s announcement will improve how customers are treated.
“In July, we announced new rules, which will make it quicker and easier for the Commission to take action for breaches of consumer law. That includes taking action where firms breach the principles laid out by the CMA.
“We support the action taken by the CMA and expect all online gambling businesses to take immediate action to update their practices in line with these, or face action by the Commission in the future.”
Image: Santeri Viinamäki