If you want to learn more about how the UK regulates online gambling and, more specifically, online slots like the Fishin Frenzy Slot, make sure to read our exciting and informative article.
We’ll talk about some of the most important things you should know, like how KYC, taxes, and even limits work.
For starters, let’s check out the primary gaming system in the UK.
UK Online Slots Law
Over the past few decades, there has been a dramatic shift in the legal framework governing the UK slots industry. Though the first slot machines appeared in the early 1900s, widespread popularity arrived in the late 1960s. The only places you could find slot machines were arcades. The likes of Butlins and Pontins, as well as local fairgrounds, come to mind.
The original fruit machines were one-armed bandits inspired by the concept of chance. No special features hold, nudges or rewards were present. Instead, you put in a token, pulled the level, and crossed your fingers. In terms of real legislation, the UK slot machine space was not accustomed to any strict control until 2005.
In 2005, the government of the United Kingdom passed an important piece of legislation known as the Gambling Act. The Gambling Act of 2005 made land-based slot machines (found in bars, arcades, and casinos) safer for players and ushered in a new era for online slot machines.
After the passing of the Gambling Act in the United Kingdom, slot machines were finally given the green.
The leading cause of this is the need for more oversight in the online slots sector before 2005. Slot casinos would open and close, taking player money with them. These shady businesses knew that the lack of regulations gave them a big advantage.
The Gambling Act of 2005 has made a significant difference, and the Gambling Commission serves as a strict regulator for the online slot business. Simply put, the UK Gambling Commission enforces laws that prevent illegal gambling and ensure that UK slot machines stay open for business.
Now that you’re familiar with the legal landscape of UK gambling read on as we explain how stringent restrictions make online slots perfectly acceptable there.
How the UKGC Legalizes Online Slots
The operator’s compliance with Gambling Commission laws is not the only factor to consider when determining whether or not online slot games are lawful in the UK. Many things need to be considered before any online slot casino can even think about opening its virtual doors to the public. To begin with, any online casino that wants to accept players from the United Kingdom must first get a gaming licence from the Gambling Commission.
It is important to remember that the Slots Operator must fulfil certain standards imposed by the Gambling Commission to get a licence. To ensure the safety of player cash, the platform must have a foolproof system in place to ensure the randomization of slots, and strict controls must be in place to protect against any potential for fraud.
Aside from this, every online slot site that wants a licence must guarantee that player payments will be kept separate from the site’s general running revenues. To put it another way, they put all the money gamblers put in an account aside just for payouts of games like proteinrealm.com. This is a direct response to the fact that many shady online casinos had to close their doors in the industry’s early days because they lacked the funds to pay out winning players’ withdrawals. This has no place in online slots in the UK and never will.