According to correspondence seen by the Sunday Independent, Irish gambling regulators are worried that a possible increase brought to the maximum wager permitted on electronic betting machines could lead to increased money laundering.
TDs have heard that the considered addition of bigger gambling machine stakes to the new Gaming and lotteries Bill would pave the way for people to place larger bets and make should they look to conceal money which they have generated through criminal activity. The concern has been raised after some representatives of the public have met with the National Lottery, as the latter was willing to make them acquainted with the issues surrounding the laws proposed by the Government.
According to reports, a presentation provided to Oireachtas members has shown that officials of the National Lottery got concerned that the Government’s Bill will inflict considerable harm to its games. As a result, the National Lottery has called for the Government to put an end to the permission for gamblers to bet on its games with local bookmakers, saying that such games result in revenue losses of about €110 million which would have otherwise go into its good causes fund.
The proposal under which the betting stakes offered at electronic gaming terminals has also pushed representatives of the Gaming and Leisure Association of Ireland (GLAI) to contact TDs because of their concern regarding the idea. Previously, the GLAI has strongly criticised the proposal because it would allow players to place bets which are 333 times bigger than it is currently permitted to be placed on the controversial gambling terminals.
Currently, Ireland Has the Third-Highest Betting Losses Per Capita Worldwide
The official terms of the Gaming and Lotteries Bill would see the machines’ betting stakes rise from three cents per spin to €10.
The proposed amendment under which the increase would be allowed was withdrawn before the Daíl took its summer break but it is expected to be revised in September. The GLAI has reached Irish TDs and senators with a letter, saying that it found the increase of the betting stakes particularly concerning, especially when taking into account the fact that Ireland has been reported as the country with the third-highest losses per capita on a global scale.
According to the Gaming and Leisure Association of Ireland, the increase of the gambling machines’ stake would put consumer protection in jeopardy but it would also present a significant money laundering risk. A spokesman of the Department of Justice has reminded that there is currently strict anti-money laundering legislation and gaming terminals are not considered a reliable gambling operation to guarantee such activity.
Some TDs, such as Sean Sherlock from the Labour Party, have shared a concern that a €10 stake is too high and shared fears that such an increase could encourage risky gambling behaviour. He explained that one form of gambling must not push people into another. On the other hand, a spokesman of the National Lottery has shared that it is happy with proposals which would permit charity lotteries but it is also willing to see the competent authorities make sure bookmakers are banned from taking bets on National Lottery games.
- Author
Daniel Williams
