UK gambling operators – both online and land-based – are facing new restrictions on their dealings with high-rolling customers, but the measures stop short of abolishing VIP programs altogether.
On Wednesday, the UK Gambling Commission (UKGC) unveiled “strict new guidance” intended to “clean up the malpractice of so-called VIP schemes.” The changes, which take effect October 31, have particular ramifications for gambling execs tasked with handling high-value customers (HVC).
The guidance isn’t all that unremarkable or unprecedented, basically ensuring that customers can afford to lose the sums they’re wagering, continuously performing due diligence to ensure an HVC’s financial situation hasn’t changed, and monitoring customer activity for evidence of gambling-related harm.
But the UKGC will now require operators to identify specific individuals by name who will be responsible for VIP account compliance. These individuals should be “at senior executive level or equivalent” who hold a personal management license issued by the UKGC and will be called upon to justify any dereliction of duty in maintaining the new standards.