Why are so many casinos not reapplying for their UKGC licence? Tune in to learn which two live casinos quit UK iGaming this September. (Image by Superedd on pixabay.com)
LVBet and Energy Casino, both operating under separate operators and UKGC licensing, have announced that they will not renew their UK certifications.
The result of the announcement means both online gambling platforms will cease to accept new players from within the UK. Before the casino licenses expire, UK members will need to withdraw their balances and start to search elsewhere as their accounts will be deactivated.
- Energy Casino: You can check the Probe Investment Limited UKGC licensing under account number 39325. From 13 September (today) Energy live casino stopped accepting new members. Its UKGC licence is still active. All UK players will have their accounts disabled in November 2022 when the license expires. The casino will continue its MGA (Malta Gaming Authority) licence.
- LVBet: We have never reviewed LVBet. The casino and sports book operate under Fairload Limited with UKGC licensing account number 46794. From 13 September, the platform will no longer accept UK players. Those exisiting UK players will still have access to their account as usual until next year when the licence expires. Again, the live casino will continue its MGA (Malta Gaming Authority) licence.
You can check both live casinos’ licensing statuses via the official UKGC licensing search page. Note: You will need to search via the operator’s name and not the online casino name.
Who is not affected? As both live casinos will continue to operate under their respective MGA licensing, players in Canada, Ireland, New Zealand, South Africa and India will still have access. Also, many countries in Asia, South America, Africa and Europe will still play with the casinos still focusing on iGaming markets with Spanish-speaking, French-speaking, Finnish, Polish, German, and Portuguese players.
Pros & Cons for UK Live Casino Players When Casinos Quit UK iGaming
It seems the UK iGaming market only has room for big brand names. For any newbie online casino, the barriers to entry are incredibly high, meaning this is an industry for those firms with huge investments backing them up. For UK players, there are both advantages and disadvantages to the tightening grip of the UKGC’s continuously modified gambling laws and regulations.
- Advantages: UK live casinos under the UKGC online gambling licensing framework, and other gambling verticals, have a safer and more secure live casino gaming experience. Every live casino software platform and online casino hosting live dealer brands has all undergone strict due diligence. These checks are no joke. They are some of the most stringent of any licensing authority. Therefore, when you play at a UK live casino, you know that the financial, fairness, RTP/house edge, responsible gambling compliance, internet security (the UK 10 steps to cyber security), privacy laws and consumer rights laws are all adhered to. Those that do not adhere face huge fines.
- Disadvantages: As operating in the UK live casino market requires operators to ensure their platforms adhere to so many compliance laws, the costs are immense. This also includes careful marketing planning to ensure socially responsible marketing plans. On top of this, the addition of AI software to detect problem gamblers, keep track of financial transactions, AML adherence, and more. With the rising costs, this is causing operators to exit the market and stem the flow of new operators and casinos entering the market. In turn, this means fewer competitors. We often use the terms and buyers’ market in live casino news, but with less competition, those operating in the UKGC market may not be as incentivised as much to offer attractive bonus deals, faster cash outs and better game collections.
Are you interested in casino compliance? Check out the ‘Global Regulatory Awards 2022 Shortlists’. This is a unique event awarding those that keep our gambling experience safe and secure. Big names like Playtech, Amusnet, Global Laboratories International, Game Global, IGT, Authentic Gaming, Scientific Gaming and more.
Leave A Comment