UK Casinos A Whole New Legal Era Lies Ahead

Change is good, re-arranging and re-designing is far better. US players have much to look forward to as more and more states legalise sports betting. The amendment also means a different range of problems to deal with. According to the Managing Director of Strategy, Paul Sculpher, it is the way land-based casinos will have to deal with problem gambling, money laundering and legislation.

Several UK Casinos Close

In the late 1990s, the talks were centred around the incredible opportunities in the UK land-based casinos. How the industry opened up to players, the golden age at the time, although since then things changed and became more robust. Several casinos closed in the UK, and unless more changes take place, there could be more. What could change the situation is a healthy combination of anti-money laundering regulations. In keeping the UK casinos free from criminals, money-laundering rules will be ethical.

Regulations Regarding Proof of Funds

The way to prove the origin of funds is straightforward enough, but, in some instances, it can be a sensitive subject. For elderly players, it means producing evidence of their partner’s death certificates. Most walk away from such conditions, and their spend is lost forever. There are also the wealthy that won’t discuss their finances or provide evidence. It is either a case of not presenting their wealth or attracting the attention of the taxman. All these are damaging to the casino business when you consider the rules.

Anti-Money-Laundering Regulations

While the long-term solution is still not found, many operators are fined by regulators when they don’t obey the rules in both online and offline casinos. In time there might be acceptable to the states by the current unwilling players. Unless it happens, there won’t be any place for them to play, should all the operators agree to the rules. But most of the honest players with regular incomes will be lost to casinos for good.

Toughest Competition

There is also the stiffer competition that the UK casinos face, this time it is from an unexpected direction, the fixed-odds betting terminals. The reduction of maximum stakes is a huge problem and sometimes the hardest to face due to heavy regulation. Land-based casinos are barely recovering from the chunk online casinos took out of their revenue, and then mobile casinos removed even a more significant piece.

Younger Generation Attracted Via Gamification

In the USA, most of the talks are positive and includes the inflow of younger players that enjoy slots. It is also the primary motivation behind gamification that combines spinning with video gaming to increase interactive entertainment. Identifying the problem is probably the most natural part, although finding the solutions are the challenge!

More states in the US are legalisation sports betting, some allow online and mobile play, which ensure larger volumes of revenue. Not all states will recognise this from the start, although it is the only way to remain in the tight race of existence for sportsbooks and casinos.

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