Gambling companies will be obliged to increase checks on customers who are sustaining unaffordable losses as part of new gambling ref🗹orms.
The plans, which will be triggered when a gambler loses £1,000 within 24 hours, or £2,000 over a🌸 90 day period, were outlined in the UK Government’s gambling White Paperꦕ published on Thursday April 27.
Other measures in the document include maximum stakes for online slot machines of between £2 and £15 for all customers subject to con𓂃sultation and a new statutor🎉y levy that will see gambling companies funding research, education and treatment.
The Gambling Commission will conduct background checks at moderate levels of spending to check for indicators of “financi🔯al vulnerability” including county court judgments. The UK Government have proposed that those initial checks begin at net losses of £125 a month or £500 within a year.
ꦿAt higher spending levels, which may point to harmful binge gambling or continued unaffordable losses, the government have stated that there must be a more detailed appriasal of a customer’s financial situation. The threshold for this has been set at a £1,000 net loss within 24 hours or £2,000 within 90 days.
Culture secretary Lucy Frazer stated that the reforms, which cover “six key areas”, would 💟protect vulnerable customers.
“Firstly, we want to tackle some of the challenges unique to online gambling…we are going to force companies to step up their chec🧸ks on 🎃when losses are likely to be unaffordable or harmful for punters.
“Companies already have to intervene when they know a customer is spending vast sums, but this change will 💎bette🍒r-protect those least able to afford even small losses.”
The key measures in the White Paper
A 1% mandatory levy on industry revenues
Tough🐓er affordability checks to preven💟t huge losses
Online slot machine stakes capp🦂ed at between 💎£2 and £15
Curbing “free spin” and “bonus” offers
Measures to slow down online casino games
More resources for the Gambling Commission
Plans for a gambling ombudsman
A gambling White Paper for the smartphone era
Frazer also announced a new 🌠statutory levy will see gambling companies required to fund more groundbreaking research, educat💯ion and treatment.
Speaking about the new ♉statutory levy which will see gambling companies be required to fund research, education and trea𓂃tment Fraser said:
“No one should be denied an innocent flutter, but the publi꧂c shoul🐻d not have to bear the cost of treatment when a punter becomes an addict.
“one of the important changes…will be a new statutory levy to turn the tables on problem gambling, one that sees gambling companies required to fund more groundbreaking research, education and trea𓆏tment.”
She continued: “We need a new 🧜approach that recognises a flutter is one thing, unchecked addiction is another. So, today we are bringing our pre-smartphone regulations into the present day with a gambling white paper for the digital age.”
UK Bookmakers React
Ladbrokes owner Entain h🌠as welcomed the publication of the Government’s gambling white paper and said it has already implemented a number of actions linked to the new proposals.
Entain’s chief executive officer said: “The UK Gambling Act Review is an important step towards having a robust regulatory framework that is fit for the digital age and creates a level playing field fo🌳r all operators.
“We welcome 🌞th🥃e clarity that it will bring to the industry and customers.”
Peter Jackson, chief executive of Flutter Entertainment, whose brands include P🌜addy Power and Betfair, said: “We welcome the publication of the White Paper, which marks a significant moment for the UK gambling sector.
“Whilst w🌠e will need to review the detail of the proposals once published, we believe proactive change will lead to a better future for our industry.
