Here are some of the issues we have consulted on and their outcomes.
The Gambling Commission consulted on a proposal to maintain transparency to customers when the exclusive horse-race pool betting licence ends on 12 July this year. To do this, we proposed extending the existing requirement, set out in our Licence conditions and codes of practice, that applied to pool betting on dog races, to also apply to horse-race pool betting.
In proposing this change, we considered that the transparency requirements should apply to all pool betting - for example dogs, horse-race, and football pool betting.
We received responses from individuals, trade associations and business. The majority were in favour of the proposal for the purposes of transparency to consumers, and consistency between different forms of pool betting.
Two respondents supported the proposals but raised a number of queries about how to interpret the transparency requirements for horse-race pool betting, which they considered to be much more complex than pool betting on dog races and potentially requiring a degree of flexibility to accommodate those complexities.
One respondent considered that the proposals should be extended to cover additional areas such as the source of liquidity in pools.
We have implemented the extension of existing requirements from pool betting on dog races to other forms of pool betting, including horse-race pool betting. This will come into effect from 13 July.
The detailed questions which were raised by respondents will be addressed in guidance to be made available on our website very shortly. This will set out further guidance on how to interpret the requirements relating to ‘potential dividend returns’ and ‘unit stakes’. This guidance reflects the principle that consumers understand the bets being offered to them - what they could win in the case of win and place bets or what is available to be won for combination bets.
In due course, we will also issue guidance to businesses on further issues which we consider necessary to maintain basic transparency to consumers. This will cover liquidity and seeding of pools. Operators may choose various strategies to enhance prize pools, examples being but not limited to, offering minimum guaranteed returns or by purchasing entries within the pools (be that directly or indirectly). In circumstances where operators are applying strategies to their own pools, they should make all customers aware. As a minimum, this information should be included in readily accessible terms and conditions. Operators must ensure that all customers are treated equally through the application of a single pool closing time and the provision of consistent information about pool sizes and selections made.