Andrew Rhodes warns of new developments such as NFTs, and crypto currency. The director of the Gambling Commission said during trade show ICE that these developments do not fall under traditional gambling, but do require the attention of regulators.
Regulators such as the Gambling Commission in the United Kingdom monitor the market for (online) gambling. It checks whether legal providers comply with the laws and regulations and tries to prevent illegal providers from gaining a foothold. The language used in these products has changed: it talks about investing and trading, but without the safeguards or standards that these terms should entail.
But the classic definition of online gambling and online casinos no longer satisfies in all cases, according to Gambling Commission director Andre Rhodes.