UK: Operators ordered to update fund withdrawal policies

UK punters will be able to withdraw funds more easily in the future after the Competition and Markets Authority (CMA) ordered two online gambling companies to update their policies, while the Gambling Commission warned operators to “take immediate action” or face the consequences.

Jumpman Gaming and Progress Play will remove terms and conditions that had stopped players from taking out all of their own money in a single transaction.

Some customers of the brands had previously been forced to withdraw funds in installments over an extended period, according to the CMA.

Both Jumpman Gaming and Progress Play have agreed to drop these practices and also stop using terms that enabled them to confiscate money from players’ accounts due to inactivity.

In addition, Progress Play has agreed to no longer confiscate players’ money if they do not meet identification check criteria within a certain period.

The announcement comes after the CMA, in collaboration with the Gambling Commission, carried out in-depth investigation into unfair practices and terms and conditions across the gambling industry.

Full Content: UK Government