High-spending online gamblers to face financial risk checks
Summary
The Gambling Commission will require online gamblers who spend large amounts in a short time to undergo financial risk assessments. These checks aim to identify people who may have financial problems due to gambling but are not the same as affordability checks.Key Facts
- Gamblers spending over £1,000 in 24 hours or over £3,000 in 90 days will face financial risk checks.
- Under-25s will have lower spending limits for these checks.
- The assessments use data from credit reference agencies but do not affect credit scores.
- The checks will start with those over 25 who spend more than £5,000 in 24 hours and will lower to £1,000 over time.
- High spenders are more likely to have a debt management plan or past credit defaults.
- The Commission will introduce this carefully and in stages, after talking with gambling companies and other groups.
- These checks aim to spot signs of financial difficulty linked to gambling without requiring detailed affordability reviews, which some gamblers dislike.
- The Commission is concerned that stricter rules might push problem gamblers to illegal gambling sites.
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