The future of the casino gaming reserve
Start date: 20
May 2011
End date: 12 August 2011
Number of responses
received: 5
As a result of this consultation the Gambling Commission has now
published:
The consultation was on proposals to revoke the licence
condition which required non-remote casinos to hold a casino gaming
reserve to enable them to meet unexpectedly large customer
wins.
The decision to revoke the licence condition brings the non
remote casinos into line with other gambling sectors, none of which
had this additional safeguard. The Gambling Commission
decided that the actual risk to players’ funds was very small and
the costs of the additional protection provided by the gaming
reserve disproportionate.
While
licensed operators have legal obligations to their customers,
and a requirement under
licence condition 4 to explain to customers whether and if so
how they protect customers’ funds in the event of insolvency, we do
not stand behind or in any way guarantee funds deposited or prizes
due.
Our
licensing process tests the general suitability of an operator
to run a gambling business, but it does not provide a guarantee of
future financial circumstances. As with other commercial
transactions such as buying consumer goods or entertainment, it is
for consumers to assure themselves of the security of prizes
offered by or of funds deposited with operators.
The original consultation document can be accessed here:
Future of the casino gaming reserve consultation - May 2011
Page last reviewed: November
2011