The Prize Competition Council (PCC), the first trade body dedicated to the growing prize draw sector, has named Tom Banks as its inaugural Executive Director. Banks, previously Head of External Relations at FDJ United, steps into the role as the PCC's membership has expanded rapidly since its formation in July, growing from eight to 65 members.
Leadership to Navigate Regulatory Challenges
Banks takes charge at a time when prize competition operators are facing increasing scrutiny. His main responsibility will be to guide PCC members through the Department for Digital, Culture, Media and Sport’s (DCMS) voluntary code of practice. This code, designed to enhance consumer protections, comes as the sector reportedly engages over seven million participants and generates more than £1bn in annual revenue.
Key Regulatory Measures for the Sector
Although prize draws are not licensed by the Gambling Commission, the DCMS code introduces several requirements familiar to the gambling industry. Operators are expected to implement robust age verification, set spending limits and suspensions to mitigate gambling risks, and cap credit card transactions at £250 per month. The code also calls for greater transparency regarding entry rules, prize allocation, and clear communication on how charity-linked draws support their causes.
Implications for Industry Stakeholders
Banks’ appointment is significant for operators and affiliates, as the PCC aims to support compliance with the DCMS code and promote responsible standards. With 185 operators and 34 additional industry signatories already committed to the code, the sector is under pressure to demonstrate accountability, especially given concerns raised by GambleAware about the potential normalization of gambling among young people due to the similarities between prize draws and gambling.
Key takeaways
- Tom Banks, ex-FDJ United, named as the first Executive Director of the PCC.
- PCC membership has grown from eight to 65 since July.
- Banks will focus on supporting operators with DCMS voluntary code compliance.
- New code introduces stricter consumer protection measures for the prize draw sector.