UKGC: In-Play Sports Betting Not A Problem
September 15, 2016
One of the bigger earners for Bitcoin gambling UK is online sports betting. The British love placing bets on a variety of sporting events. Sports betting in the UK is a well-known institution and a long history. It has experienced several innovations like additional betting options and more. However, one of the newer innovations, namely in-play sports betting, is causing problems.
In-play betting is all about betting while a match is going on. Traditional sports betting is done before a match begins making it harder to predict the results of the match. In-play betting lets bettors react. However, this has led to in-play betting is being banned in some countries like Australia. This is supposedly because it presents increased risks of problem gambling and exploitation. The UK Gambling Commission, however, sees no need for any changes in the UK’s stance on in-play sports betting.
In-play sports betting concerns
In a recently released paper, the UKGC disagrees that in-play betting is any more risky than normal sports betting. In their opinion, effective risk management by operators and bettors can help control the additional risks.
In-play sports betting’s critics identifies three areas of concern. First is the fairness and transparency of the betting. Next is the risk of harm within the betting medium. Finally, there is the fact that technology can give some bettors an advantage.
The final concern is high in many people’s minds since international events can have a time lag between when events occur during a sports match, and when a bettor gets that information. With the popularity of live streams, people can use them to make bets.
However, some broadcasts several second-long gaps that people can take advantage of. In addition, computer programs like bots can automate betting so that wagers are placed lightning-quick. Nevertheless, the UKGC thinks that this does not give players and undue advantages to some players.
UKGC takes a wait-and-see approach
This does not mean that the UKGC will be idle. The commission will be investigating how technology can affect people’s wagers and integrating it in future changes to their regulations, as announced in a recent statement:
“However, the Commission is considering whether the current information requirements sufficiently inform bettors about the potential use of software aids and operator’s policies for handling bet requests should a price change during the period between a bet request and confirmation. We will be consulting on these matters as part of the Remote gambling and Software technical standards review that will be launched in October 2016.”
Until then though, in-play sports betting will prosper in the UK, including online sports betting with Bitcoin in UK.