Bettings-these include all types of “bets,” either on live events or virtual ones.Arcades-these consist of adult and family arcades.Who’s affected?Īccording to the GA, the following activities and products fall under gambling regulations: Accordingly, the Gambling Commission was formed to ensure that the industry meets the requirements set out by the Act.
The Act was created to fight crime (such as money laundering), protect children, and establish fair conditions in gambling. The Act defines various gambling terms, such as “betting,” “lottery,” and “prize.” It also provides a set of requirements for all types of gambling licenses and explains all the prohibitions and sanctions for gambling businesses. The Gambling Act 2005 (GA) is the primary gambling regulation in the UK. It also investigates and prosecutes illegal gambling activities. It was established after the introduction of the Gambling Act in 2005 to issue and revoke operating and personal gambling licenses.
The Gambling Commission of Great Britain is the primary regulator of the UK gambling industry. Understandably, industry regulations are continuously updated to prevent criminal activity in this massive industry. The UK is the second-largest gambling market in Europe, with British gamblers spending approximately £14 billion ($18.9 billion) per year.
