For years, there has been a sense that regulatory bodies across multiple sectors have operated from a decidedly insular and uncooperative perspective. Recent changes to banking and financial trading legislation seem to reaffirm this, as many have placed considerable restrictions on UK firms and have the potential to cost them jobs over time.
The same rule tends to apply in the gaming and gambling sector, with the UK Gambling Commission (UKGC) often accused of failing to understand the motivation, needs and behaviour of consumers nationwide. This is all set to change, however, with the release of a groundbreaking plan to engage in a two-way conversation with gamblers in the UK.
Why the Gambling Commission has Changed its Outlook
While there are several reasons that may have triggered this decision, more than anything else the UKGC want to ensure that gambling operators put their customers at the centre of everything that they do. This revolutionary approach has been welcomed in most quarters, particularly within the online market with sites such as www.redflushcasino.com believing that it will enhance the gambling experience and lead to more progressive market regulations.
The plan itself is relatively simple in its content, with the UKGC proposing to garner huge swathes of data from gamblers of all demographics across Britain. This information will offer the group insight into modern gambling behaviour, while also highlighting the challenges that customers face on a daily basis. From here, the UKGC believes that it will be far easier to refine its future regulatory efforts for the benefit of the consumer, while they would also be in a far better position to offer gamblers advice that will resolve customer issues more effectively.
Perhaps more importantly, this new and exciting approach will change the way in which regulatory bodies are seen by operators and consumers alike. Instead of maintaining their perceived position as outsiders who have little interest in the growth of the industry or the experience of customers, it will see regulators align themselves with operators and those who gamble on a regular basis. This creates an opportunity for improved collaboration and teamwork, which in turn can improve the gambling experience for all parties.
Why an Approachable UKGC is Central to the Growth of the Market
This last point is pivotal, as the gambling industry cannot hope to maintain its existing rate of growth without improving the gambling experience as a whole. To achieve this they need to earn the trust and the appreciation of gamblers, who can then offer their insight and forge a path towards significant regulatory improvements. This would mean that all individual forces in the gaming industry were pulling in the same direction, adding to their weight to a common and productive goal.
For those who say that the market has already grown considerably without this collaboration, it is important to note that not everything lasts forever. All organic growth has its saturation point, and there remains a sense that the gambling market in the UK may be about to reach its own. For this challenge to be negated, the industry must find ways of improving the gambling experience and the impact of regulatory measures, as this will help consumers to spend more while helping operators to reach out to new audiences.