The Betting and Gaming Council (BGC) has collaborated with the UK Gambling Commission (UKGC) on what is a zero-tolerance approach – a new code of conduct – towards malpractices in the way gambling operators treat VIP accounts.
The official report titled “The Gambling Industry’s Code of Conduct for High Value Customer VIP Reward Programs” outlines all the actions that have been proposed as a counterweight to risky VIP practices by operators. These include restriction of access to those under the age of 25, new checks on spending, enhanced due diligence research, and more accountability for senior management who are in charge of VIP operations.
The key principals of overseeing the work of VIP Reward Programs, as per the code, are focused on three main verticals.
According to the report, the Code should be enacted by the end of the year by the UK Gambling Commission. Meanwhile, UK Prime Minister is planning to supervise a gambling overhaul along with his advisors.