UKGC Introduces Quarterly Regulatory Returns for Licensees

#GambleLike_UK #BettingLegislation 

The UK Gambling Commission (UKGC) has implemented significant changes to its regulatory reporting requirements for licensed operators. Effective from July 1, 2024, all licensees must now submit quarterly regulatory returns within 28 days of the end of each reporting period. This shift from the previous annual reporting cycle aligns with the UKGC's goal of becoming a more data-driven and risk-focused regulator.

Jason Davies, UKGC Data Analytics Manager, explained the rationale behind the changes. He emphasized the importance of more frequent data collection for analyzing market trends, managing the Commission's income effectively, and publishing more timely statistics for industry stakeholders.

Davies acknowledged the increased reporting burden on licensees but highlighted efforts to mitigate this by removing a substantial number of questions from the regulatory returns. The Commission has also introduced harmonized reporting periods to ensure data consistency across the industry.

To assist licensees in adapting to the new requirements, the UKGC has made several adjustments. A partial return is required for the period ending June 30, 2024, to align with the new quarterly reporting schedule. The regulatory returns guidance has been updated to reflect the changes, including the removal of obsolete fields and the addition of definitions for previously auto-calculated fields.

The Commission recognizes the need for further clarity on certain questions and has committed to updating the guidance by the end of August. This ongoing refinement demonstrates the UKGC's commitment to supporting licensees while ensuring the effectiveness of the new reporting regime.

The transition to quarterly regulatory returns signifies a major step forward for the UKGC in its efforts to enhance data-driven regulation of the gambling industry. By collecting more frequent and comprehensive data, the Commission aims to better understand market dynamics, identify potential risks, and promote a safer gambling environment.