Interactive

UK – UK Gambling Commission welcomes investigation into withdrawals

The Gambling Commission has welcomed an investigation into the restrictions placed on customers withdrawing money from their online gambling accounts.

The Competition and Markets Authority (CMA) has announced enforcement action and has written to a number of online gambling firms in respect of terms and practices that may place unfair obstacles in the way of people withdrawing their money (whether as part of a promotion or not).

The CMA has particular concern about daily, weekly or monthly limits on withdrawing funds that appear unreasonably low
potentially arbitrary short deadlines on the time customers have to verify their identity as a condition of withdrawing funds, sometimes providing for forfeiture of consumer’s funds if missed ‘dormancy’ terms that allow firms to confiscate funds after a certain period of inactivity.

Ian Angus, Programme Director at the Gambling Commission said: “We support the CMA’s investigation – gambling firms should not be placing unreasonable restrictions on when and how consumers can withdraw money from their online gambling accounts. While the CMA continues its enquiry, we expect all online operators to look closely at the terms and practices they have in place and consider if they are fair on their customers.”