Move to impose strict new guidelines and regulations on the UK gambling industry could cost as much as $1.3 billion, according to a new report.
The gambling White Paper includes many aspects designed to assist with problem gamblers and also includes moves to reduce sponsorship and advertising potential and is widely decried by the leading players in the market.
The Gambling Act review white paper is set to be released this month, and the exact details of what it contains are unknown, but the results of the ongoing push to hamstring the industry are already being felt.
The Premier League has already self-imposed a ban on shirt sponsorship deals with betting brands, and there is ongoing talk of restricting the amount that individuals can bet, as well as plans to insist that providers run suitable finance checks on potential players.
The uncertainty about what is in the White Paper is almost causing more of an issue than the actual detail may do, and a spokesman for the DCMS (Department for Culture, Media and Sport) was keen to not exacerbate matters;
“We do not comment on speculation,”
“We are determined to protect those most at risk of gambling-related harm and are working to finalise details of our review. The white paper will strengthen our regulatory framework to ensure it is fit for the digital age.” He added.
Much talk and speculation revolves around how to deal with the very real problem of problem gamblers, and hence moves to introduce maximum stakes on slot machines could be an easy way to ease concerns at both the government level and with the brands themselves, who have nothing to gain from resisting basic measures that could alleviate pressure on them as a whole.
However, talk of brands running so-called ‘affordability checks’ may be considered a step too far, with some reports suggesting that sports bookmakers and online casinos would have to, in theory, demand to see payslips of prospective customers before allowing them to sign-up for their services, seemingly a step too far for both brands and players.