A recent enquiry by the UK government into online gaming accounts has revealed troubling news. The government reported that there are millions of pounds lying dormant in player accounts across the online gambling spectrum. The government indicated that some online gaming operators have made it difficult for players to make withdrawals from their online gaming accounts. The government is looking for a way to claim these funds to use for several good causes. MP Don Foster completed the enquiry and sent the results to John Penrose, Minister for Tourism and Heritage. Foster was given the task in July 2010 and Penrose will review the enquiry’s findings. Penrose stated “I’ll be looking at this report in detail, particularly in light of our work on the regulatory future of remote gambling to see whether we are able to make sure sporting good causes can benefit in the future.”
Many industry experts believe that the enquiry will prompt online gaming operators to take a second look at their terms and conditions regarding withdrawals by customers and that many online gaming companies will be forced to adjust withdrawal terms and conditions in favor of the customers. The UK government believes that online gambling companies including online bingo, poker, blackjack, casinos and sports betting are making it difficult for players to withdraw winnings and other funds from their accounts. The enquiry cites onerous withdrawal requirements such as minimum withdrawals and only accepting withdrawal requests on certain days as reasons why many players simply abandon their online accounts. Many online gaming operators also earn interest on the funds in player’s accounts giving them even more incentive to make withdrawals difficult.
Recently the UK government announced that they are considering stricter licensing requirements for offshore gambling operators. The inquiry is part of a study into the Regulatory Future of Remote Gambling in the UK and the government said an announcement will be made in ‘due course.’ The recommendations will look at how the government will classify a betting account as ‘dormant.’ The government will likely recommend that gaming operators will have to notify players about dormant accounts. The recommendations have some drawbacks. Customers may argue that it is unfair for the government to take dormant funds that they were not able to withdraw because of strict terms and conditions.
Fortunately for internet bingo players there has been little chicanery at most bingo sites and most have reasonable withdrawal terms and conditions. The result of the inquiry will probably be beneficial for most players and should result in withdrawal terms and conditions favorable to players.
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