GAMBLING COMMISSION ORDERS FINANCIAL RISK CHECKS FOR HIGH-SPENDING ONLINE...

The Gambling Commission has announced that online gamblers spending more than £1,000 within a 24-hour period will be required to undergo a financial risk assessment. The requirement will also apply to those spending over £3,000 across a rolling 90-day period, with lower thresholds set for those under 25 years of age. The regulator stated that assessments will draw on data held by credit reference agencies, though it emphasised these are not "affordability checks". Operators will use the information to identify gamblers at risk of financial harm or experiencing financial difficulty.

The initial phase will apply only to those spending more than £5,000 within a 24-hour period, a threshold the Gambling Commission said would affect fewer than 0.5% of customers. The threshold will eventually be lowered to £1,000 over 24 hours as the scheme develops. The commission recorded data showing high-spending gamblers were between two and four times more likely to have a debt management plan, and between two and five times more likely to have a default in the previous 12 months, compared with the wider population. The assessments will be provided by credit reference agencies and will not affect customers' credit scores.

Sarah Gardner, acting chief executive of the Gambling Commission, stated the vast majority of customers would not require an assessment. The commission has not set a specific timeline for the changes, indicating they will be introduced in a "very careful, staged way" following engagement with operators and other stakeholders over the summer. The 2023 gambling white paper had previously recommended enhanced checks on customers experiencing very high losses. Some stakeholders have raised concerns that increased regulation could push problem gamblers towards unlicensed operators.