UK PARLIAMENTARY GROUP PROPOSES LIMITING ONLINE GAMBLING STAKES
On 4 November, the UK Parliament All-Party Parliamentary Group has once again proposed decreasing the maximum amount of stake in self-service betting terminals to 2 pounds. This is the result of a special report titled “Online Gambling Harm Inquiry”, calling the Government to limit the amount of spin for the entire online casino sector and put more emphasis on gambling-related harm.
The Report also recommended a more responsible policy towards gambling marketing (including affiliates), sponsorships of football teams, player account funding via credit cards, and player self-exclusion.
The document proposes a more “regulatory-aware” approach of operators when trading in jurisdictions not formally legalized online gaming and betting, as well as to put extra effort in assuring vulnerable groups and minors are duly protected.
At the beginning of November, the UK Treasury published the statistics showing a six-month increase in online casino revenues for 26%.
A recent report by PricewaterhouseCoopers indicated that, as unauthorized online operators currently account for only around 1.2% of UK online betting turnover, further regulations may negatively impact the customer experience and channel the business further into the black market.
The Report is available here