Losses generated by UK gamblers could face a £100 limit a month as part of the local authorities’ attempt to make gambling operators more responsible when it comes to tackling problem gambling in the country.
The proposal has been unveiled recently and is currently being reviewed by the UK Gambling Commission (UKGC). It has come as part of the push for stricter regulation to be imposed on the sector in order to make sure that local residents, and especially the ones who find it hard to control their gambling, will not be spending more money on the services than they can actually afford to.
According to estimates provided by the UK gambling sector’s regulatory body, 21% of the 2 million people in the country who are categorised as problem gamblers or are exposed at risk of developing an addiction to gambling admit that they spend on gambling services more than they could afford.
Furthermore, the watchdog explained that over 50% of the country’s population has what is called a “discretionary income” of under £250 on a monthly basis. The term is used to describe the sum that remains after individuals have their basic living costs, taxes and social security charges deducted from their gross income. The gambling regulatory body also explained that the aforementioned amount was usually spent on general expenditure, including leisure, sport and clothing rather than on gambling only.
Larger Gambling Loss Limits Were Called Unrealistic and Inappropriate
According to reports, the consultation held by the UK Gambling Commission came to the conclusion that the betting limits that are currently set by some companies and usually amount to thousands of pounds were inappropriate.
Some experts have described gambling limits of £2,000 were categorised as inappropriate and unrealistic. They have further said that such betting limits should be considerably lower, reminding that they have faced significant criticism for being inconsistent. At the time, it was also said that the lowest possible limit is likely to be set at a maximum loss of £100 per calendar month.
Apart from that, the authorities have been considering and exploring other measures as part of their efforts to unveil stricter measures aimed at protecting British gamblers from the possible harm associated with excessive gambling. These measures include the establishment of one-hour time limits after which players are set to see some curbs imposed on their bonus winnings.
Reportedly, the UK gambling sector is still expanding at a pretty rapid pace. Almost a decade ago, in 2011, the industry’s worth was estimated at £8.4 billion but reports showed that it had almost doubled by the beginning of 2019, reaching £14.4 billion.
With the country’s Government now set to review the Gambling Act of 2005, the major gambling regulatory body in the country will clearly aim at introducing a new regulation that would be more suitable to control the sector.
Although some companies have objected to the move after finding it concerning, the introduction of new regulation may not be so bad, as it could prevent the UK gambling sector from facing even more stringent measures being unveiled as an initiative of the Government.
- Author
Daniel Williams
