Pool betting consumer transparency
On Pool betting licensing arrangements we acknowledged that operators are using a number of models to provide facilities for pool betting, or what at first sight appears to be pool betting, to consumers in Great Britain (GB).
Dependent upon the arrangements in place some betting contracts are struck in reliance of a pool betting licence whilst others are struck in reliance of a general betting standard licence.
Transparency is key in protecting the interests of consumers.
Information must be readily accessible and meaningful to allow consumers to understand the products they are using and we expect operators to provide clear, accessible and concise information on their arrangements for dispute resolution and redress.
Specifically, in relation to pool betting or what at first sight appears to be pool betting, our expectation is that customers are provided with information that identifies:
- who their betting contract is with
- who is responsible for paying out any winnings and where their funds are being held
- how to make a complaint in relation to a bet
- rules in relation to bet settlement and deduction levels (for more information see code provisions 4.2.6 and 4.2.9)
- on-course, through a public display system, relevant information such as units staked on open markets, minimum stakes and winning dividends (for more information see code provision 4.2.10 and our consultation on this matter).