Hey, this is Paul Hayward, residing in the UK. I graduated from the University of Oxford in the year 2005. After my Master’s degree, I got a Doctorate in Economic Sciences. I had a grade point of A in my mandatory comprehensive examination papers of Microeconomics and Econometrics. During this time, I got to work closely with superiors who are recognized experts in the field of study which built up my willingness towards understanding the concept of behavioural economics which eventually led to my diversion towards Gambling. The Economics Ph.D. is designed to train a student to research and analyze high academic merit and to make important, benefiting contributions to the subject. The Department of Economics enjoys an international reputation which was also a reason behind my interest in this field. Doctoral researchers have quite a few important openings for jobs. Some may choose to become a part of the academics department or work with the Government, supranational organizations or in the research departments of major financial institutions. It is expected that they would achieve a decent and substantial understanding of the ongoing economic issues in the country enabling them to take a lead or a stand regarding the matter.
My Way To Gambling Career
After completing my Doctorate in 2005, I was looking for various opportunities to pave my path for the future. It was about then when the UK released its first Gambling Act. It mostly revolved around online gambling in the UK. The major changes that the Gambling Act brought about were the transfer of licensing authority from Magistrate’s Court to UK authorities or licensing boards and the establishment of the UKGC. It was huge news back then and it was covered by all the leading news channels and other media platforms. Having completed my education in the UK, I was focused on pursuing my career in the economic system of the United Kingdom. I wanted to be a part of the economy in such a way that would have a direct link to the people and thus, it was the exact time when I decided to look into the UK Gambling Act that was predominantly ruling in the headlines during that time. I started studying Gambling, its pros, and cons, the significance of the industry, and all the details about the 2005 Act which eventually attracted all my attention. That was my initial step towards this career. I focused all my time on figuring out the importance of gambling in the UK, how the 2005 Act affected the punters, and what were the consequences of the Act. I realized that Gambling was a hugely lucrative industry, and it brought in major useful revenue for the Economy. It was also a leisure activity that all British people would take part in. I finally decided to be a part of the Gambling industry in the UK and its law aspects. It was not only about how it affected the economy but was also about how gamblers needed to figure out a safe yet controlled platform for Gambling.
Why Did I Choose Online Gambling As Your Profession?
After researching more about the Gambling Industry in the UK, I came across various facts that the Gambling Act of 2005 had determined:
- It ensured that licensed gambling operators, bookmakers were only allowed to function in the UK.
- The Gambling Commission was created for regulating all forms of the lottery, bingo, and gambling in the UK.
- There was an overall growth in the gambling industry of the UK, especially for online betting.
- Online gambling has been legal in the UK since 2005 and has been attracting punters due to loosened gambling restrictions.
Online Gambling was included in the Act due to the significant increase in the rise of gamblers. The companies whose operations are UK based could only get hold of licenses to operate in the UK by the Gambling Commission. As a resident of the UK, a gambler can gamble safely within legal rights and there is a wide range of sites where one is welcome. However, all UK online gambling sites have included the Gamstop policy which ensures that gambling is conducted in a fair way and it also protects gamblers from exploitation or addiction towards it. I felt that studying more about online gambling would be beneficial since it was well regulated in the UK and it only allowed sites that were approved by the commission. Also, there was the UKGC where one could turn in case of any unfairness while Gambling. Personally, I wanted to choose online gambling due to its diversity and accessibility to all types of gamblers from all over the globe.
Questions And Answers
Your opinion about the strict UKGC regulations?
The aim of UKGC was to keep any sort of crime out of Gambling in the UK. However, the concept of providing licenses to gambling sites for operating in the UK had a mixed outcome. While some punters were okay to register themselves agreeing to the Gamstop policy, many were sceptical since they were bound by a contract that could restrict their gameplay. Gambling is a leisure activity and imposing regulations like these made the gamblers choose internationally operated gambling sites over the ones that originated in the UK.
Your opinion about the recent UKGC regulation changes?
UKGC is preparing new regulations in the online casino forum that would solely focus on mobile casinos where the operators must verify the identification of the gamblers via KYC and AML checks. Also, no credit cards would be accepted as payment methods in online casinos in the UK. This has been proposed to avoid children below 18 indulge in gambling. This solution would actually help to control underage gambling problems because the gambling platforms would verify all the details and restrict payments via credit cards that would have some other name as on the account. Restricting credit card payments would also help problem gamblers to avoid making deposits via their credit cards and getting into tremendous debts.
Your attitude to the Gamstop self-exclusion scheme?
Gamstop scheme is beneficial for addicted gamblers as it would control their log in durations and timings in order to help them come out of the addiction and would give them a self-exclusion period. However, gamblers who gamble during leisure hours for fun and entertainment suffer due to this scheme because it mandates them into taking a break from gambling for a period of time that is not needed for them. Thus, it compels them to look for independent license holder sites that operate internationally to avoid getting tied by self-exclusion schemes.
Your favourite casino games?
Well, all sorts of Casino games interest me. From the themed slots, progressive jackpots, card and table games along with the live dealer variants. Among all of them, I would personally go for Blackjack because it has the best odds of winning, with a house edge of just 1% in most casinos. Also, blackjack is played against only the dealer and not against hooded poker champions.
Your advice for new British casino players?
Never let the lack of experience with casinos demotivate your chance of a lovely gaming experience. Losing or winning is a part of the gameplay. While RTP (Return To Player) is a definitive indicator, yet don’t forget to refer to the guidelines and information regarding the game. Especially the T&C, wagering requirements, payment and withdrawal process, etc.
Your view on gambling evolution in the next few years?
As gambling evolves and changes, the UKGC must also mould its regulations keeping in mind the recent trends of gambling. The implementation and enforcement of laws must be executed focusing on both regular gamblers and addicted gamblers so as to benefit both these types of punters.