UK introduces interim affordability code with £25,000 threshold for submitting financial documents

UK introduces interim affordability code with £25,000 threshold for submitting financial documents

Article brief provided by Racing Post
  • Bill Barber, Racing Post
April 30, 2024 7:30 PM

A new interim gambling industry code, which it is promised will reduce the number of punters being asked for personal financial documents in order to prove they can afford their level of betting, is set to be published on Wednesday.

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The voluntary ‘Code on Customer Checks’, which has been developed jointly by industry body the Betting and Gaming Council (BGC) and the Gambling Commission, and backed by ministers, will operate until the promised frictionless affordability checks proposed in the government’s white paper are developed, tested and implemented.

It is intended to sweep away what have been described as the “inconsistent” checks being applied currently, introduce uniform rules and feature much higher thresholds than those set to apply after the white paper proposals are implemented.