|The UK government has made a ruling this week that in terms of legislation and regulation there should be no difference made between two forms of betting - backing and laying. This decision basically supports the idea that there should be no different set of rules or regulations made between online and land gambling in the UK.|
Operators of online exchanges have been voicing their own opinions for some time that no added layer of beurocracy should be applied to their industry, and have welcomed this endorsement by the government, which is very much in line with their point of view.
Included in the statement made by the government is that they will also incorporate into their legislation the rules of business already being applied by larger operators. This additional statement has the effect of approving these current business practices. The existing business practice guides used by the leading three exchanges- Betfair, Betdaq and Sporting Options- include the fact that all their users are registered with the exchange, and that they already supply information to the government, as well as other administrative organisations. This information will now also be provided to the Gambling Commission.
These three industry leaders have made their support of the government decision known, advocating its now firm stance that online betting exchanges have no higher risk when it comes to the public who use them, or the sports they deal with than land based bookmakers. It is believed now that this endorsement of betting exchanges and their existing rules of business, takes away the risk that their could be discrimination made against any online punters, which in turn gives these companies added security that their players will not be tempted to move to other, less regulated sites. This latest announcement from the government of course also has benefits for them, maintaining the gains they make from the revenue generated by online operators.