UKGC are looking to introduce a £100 limit on losses every month in a bid to tackle gambling addiction
Local authorities continue to put pressure on gambling operators in a bid to tackle problem gambling in the UK. The newly proposed regulation states that UK gamblers could face a £100 limit a month on losses. The regulation is currently being reviewed by the UK Gambling Commission (UKGC) which aims to stop gamblers from spending more money than they can actually afford to.
The UK gambling sector’s regulatory body estimates that 21% of problem gamblers or those at risk of developing an addiction (2 million) concede that they spend more than they could afford on gambling services.
The authorities responsible for monitoring problem gambling in the UK states that over 50% of the country’s population has a “discretionary income” of under 250 monthly. This type of income is basically the amount that remains after one’s basic living costs, taxes and social security charges are deducted. Part of the amount is usually spent on general expenditure such as leisure, sport and clothing rather than on just gambling.
The UK Gambling Commission concluded that the current betting limits set by many companies, which some amount to thousands of pounds, were irresponsible and inappropriate. For example, those limits set at £2,000. Therefore, due to pressing issue of responsible gambling, there is the possibility that the maximum loss per calendar month will be set at £100. In addition to this measure, British gamblers may encounter more rules restricting their playing time. The regulation proposed includes a one-hour time limit and players will experience constraints on their bonus winnings after their one hour playing time.
The gambling sector in the UK is still expanding at a rapid pace. In 2011, the industry was worth £8.4 billion and, in the beginning of 2019, it increased to £14.4 billion. It will be interesting to see by how much it will increase from £14.4 billion after a few years from now, due to the UK authorities clamping down on the industry and introducing new regulations such as cool-off periods and gambling advertisement bans.
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