The Gambling Commission has welcomed enforcement action taken against online gambling firms for placing restrictions on customers looking to withdraw their money.
The Competition and Markets Authority has announced it is writing to a number of online gambling firms regarding terms and practices that may place obstacles in the way of withdrawals, both inside and outside of promotions.
Particularly of concern to the CMA are daily, weekly or monthly limits on withdrawing funds that appear unreasonably low, the potentially arbitrary short deadlines to verify identity as a condition of withdrawing and 'dormancy' terms that allow firms to confiscate funds after a period of inactivity.
Ian Angus, programme director at the Gambling Commission, said: “We support the CMA’s investigation. Gambling firms should not be placing unreasonable restrictions on when and how consumers can withdraw money from their online gambling accounts.
“While the CMA continues its enquiry, we expect all online operators to look closely at the terms and practices they have in place and consider if they are fair on their customers.”
Last month, Ladbrokes, William Hill and PT Entertainment committed to change bonus promotions to ensure players can always access and release their own money, following recommendations from the CMA.
