BGC and UKGC releases new criteria for VIP reward programs

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.

How are VIP customers selected by the Code?

The key principals of overseeing the work of VIP Reward Programs, as per the code, are focused on three main verticals.

1. Rigorous screening procedure or Know Your Customers (KYC) – Any customer who wants to become part of a VIP Reward Program or whom the casino wants to reach out to must pass a more secure process. Customers will also be subject to ongoing screenings.
2. Straightforward senior management oversight, structure, responsibility, and accountability.
3. Clear and transparent good practices in place – This is to prevent potential gambling-related harm, as well as communicating harm to customers in understandable and unambiguous means.

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.