The UK gambling Commission has made amendments to its gambling regulations allowing digital currencies to be used as “cash equivalents.”
Other conventional cash equivalents include banker’s drafts, checks, debit and credit cards. The changes are expected to come into effect by October 31.
According to the regulations, however, players are eligible for protection under UK law only on listed sites that are approved by the commission. Most of the online Bitcoin casino platforms active in the UK are currently licensed in Curacao, according to reports.
In another UK matter, the country’s Advertising Standards Authority sent out two warnings to Betway Ltd and Bwin.party over misleading ads.
Betway admitted their guilt over the complaint the ASA received, according to reports. The ad stated that “Football Betting Offer £30 Free Bet … Bet Now”, with terms and conditions published in tiny text. Betway admitted that the ad didn’t clearly state or explain that it really was a bonus match up to 30 pounds on deposit.
“The ASA considered the ad implied the free bet was a fixed amount of £30, and did not make clear that it was in fact a matched bet of between £10 and £30, depending on the amount deposited by new customers.” The ASA’s ruling said. “We considered that this was significant material information which needed to be stated clearly within the ad.”
Bwin.party was warned about wagering requirements regarding one of their welcome bonus offers. The ASA determined that their ad was indeed misleading with telling players they would receive a matched bonus amount up to 30 pounds if they deposited 10 pounds. Bwin.party was warned to change their terms and conditions of the bonus and for all future ads to state in detail the full wagering requirements.
