The Gambling Commission’s Annual Report for 2018 demonstrates that there is still a long way to go before consumers are fully informed on the terms of welcome bonuses and ongoing promotions.
The latest figures show that although general awareness of terms and conditions is improving, a vast majority of players do not read them. For the majority of players, this is an active choice to ignore the terms as 63% of players asked said they were well aware of T&Cs but did not read them. This compares to 18% of surveyed players who are not even aware of the existence of such terms.
This leaves a rather paltry figure of just 20% of players who have read the terms and conditions.
However, the statistics show that those customers that do read the T&Cs tend to find them informative, helpful and not obfuscating; 61%. This is a huge improvement, thanks greatly to efforts from the Gambling Commission and the CMA (Competition & Markets Authority). In an industry known for confusing and protracted terms, this shows a move in the right direction.
Despite this upward trend, there is still work to be done. Of those who had read the terms and conditions, 27% of respondents said they found some terms to be unfair. Operators must continue to strive for full transparency and fairness when communicating the terms of their offers.
The statistics also showed that there was an age discrepancy, when it came to who read terms and who didn’t. 26% of 25-34 year olds reported to have read these terms, the most significant of any demographic. On the other hand, only 11% over 65s had read them. Perhaps just as significantly, of those who said they didn’t even know terms existed, 37% of those were over 65.
Therefore, more must be done to educate older players on the significance of terms and conditions. Perhaps this stems from a lack of internet savvy and a generally more trusting approach to online businesses.
Other interesting statistical differences showed that women were less likely to read terms and conditions than men: 17% compared to 22%.