Two online gambling operators have been forced to lift withdrawal restrictions on customer accounts following action by the Competition and Markets Authority (CMA).
The UK Gambling Commission has issued a warning to other operators that they will have to follow suit. All gambling companies must now adhere to the standards published by the CMA.
The two businesses, Progress Play and Jumpman Gaming, have ended rules in their terms and conditions that prevented players from removing their funds in one transfer and instead required them to take the money in instalments.
This policy is seen as unfair and puts pressure on players who may gamble the money during the time period in which they are waiting to get access to their winnings.
The operators have also removed policies of confiscating funds from dormant accounts – those that had not been logged into for a specified amount of time.
ProgressPlay have further agreed to stop their policy of removing funds from accounts which have not been verified through identity checks over a certain time period.
George Lusty, Senior Director for Consumer Protection at the CMA, said: “People choosing to gamble online should be able to walk away with their own money whenever they want to.
“Jumpman Gaming and Progress Play are the first to commit to scrap their unfair withdrawal rules, but we expect companies across the sector to follow suit so no-one gets caught out with unfair terms and conditions when gambling online.”
The action is part of an ongoing investigation being carried out by the CMA to make terms and conditions for gamblers fairer and to ensure that businesses are not violating consumer protection law.
Paul Hope, Executive Director, Gambling Commission said: “We support the outcome of the CMA’s investigation, and we’re pleased that both of the operators involved have committed to making changes that will make it fairer and simpler for customers to withdraw funds from their online gambling accounts.”
For gamblers at slot sites in the UK, getting access to winnings is generally quicker and easier than it used to be. Withdrawal pending periods have come down in recent years and many casinos now process payments in just a few hours. Sites like Rizk Casino have also introduced Withdrawal Lock features that prevent players from ‘reversing’ a withdrawal during the pending time.
The further action taken by the CMA is another step towards making the environment safer and fairer for the customer.