Britain’s Gambling Commission has launched a new consultation on proposals to improve consistency and transparency for consumers on financial deposit limits.
Deposit limits for all online gambling accounts will be introduced in Great Britain from 31 October, as part of ongoing efforts to strengthen gambling regulation in response to the 2023 Gambling Act Review White Paper.
The supplementary consultation launched on Thursday aims to clarify the definition of deposit limits, after some licensed operators in the market began offering “net deposit limits”.
Deposit limits usually see the player set a deposit amount such as £100 per month, meaning that they can only deposit a maximum of £100 during that period. But the net deposit limit introduced by some operators also factors in withdrawals.
As a result, a player with a monthly net deposit limit of £100 who withdraws £50 would be able to deposit £150 into their online account in that month.
“This can be confusing for customers, especially if the descriptions for the different types of limit are similar,” said the Gambling Commission.
“We are therefore running this supplementary consultation to build upon the proposals detailed in the initial consultation, in particular proposals for the definitions of ‘deposit limits’ and other financial limits, to improve consistency across the industry and to improve clarity and transparency about how limits work for consumers.”
The supplementary consultation on deposit limits opened on 6 March and closes 30 April.