The Gambling Act of 2005 transformed the UK into one of the most tolerant nations in the world for this well-liked hobby. But given that a new UK gambling act is anticipated in 2023, all could soon alter. Due to allegations of high rates of problem gambling, the government is trying to make the public’s surroundings safer by making adjustments to the advertising and business practices of betting companies.
Here are a few areas where more stringent regulation is likely.
Limits on Deposits and Bets on EU Casinos
A step has already been taken to prevent credit cards from being used on gambling websites. Although that is a positive step, more action is probably needed to safeguard gamblers in EU casinos that accept UK players, like those found on casinotop3.com. One way forward is to place more focus on deposit and stake restrictions. Reducing a player’s maximum bet is crucial if they are starting to exhibit symptoms of a gambling problem. When a player chases losses, major issues can arise from adding more and more money to your account.
There have already been limitations for High Street bookmakers in this area. The maximum stakes that can be placed on fixed-odds betting terminals have been restricted. The previous maximum bet on these machines was £100. In just a few minutes, players could lose a lot of money. The maximum bet has now been lowered to £2.
Casinos provide a tonne of online slot games where you may wager a lot of money in a single spin on gambling websites. Your entire week’s pay might be gone in a matter of seconds. A similar £2 stake restriction is anticipated, and action on the maximum bet for these games is expected to be on the agenda for a future UK gambling act.
Advertising
In the past 30 years, online gambling has increased dramatically. If they so choose, people are free to sit at home and gamble all day. Betting companies have been doing everything they can to entice new clients in a highly competitive industry with the potential for enormous profits. For instance, they frequently display vibrant advertisements with enticing promotions like 20 no-deposit free spins upon registration. As a result, even those who were not interested before may opt to attempt gambling since they perceive it as a “free” opportunity to win a large sum of money.
Today, commercial after commercial can be heard on the radio, seen on television, and read in magazines and newspapers. As you go down the High Street, you will pass sizable billboards featuring the newest betting promotions. Shops and websites are frantically trying to draw you in so you may place bets with them.
The way bonuses are promoted will need to change. For instance, the key terms associated with each casino promotion must be thoroughly disclosed to the reader. Therefore, each CTA (call to action) link will have a block of text next to it or below it in the future.
The result of all these advertisements has been to “normalise” gambling in the eyes of the general population and make placing a wager seem as normal as buying a pint of milk. A new gambling law will aim to limit the amount of time people spend watching TV, using social media, and especially around sports.
VIP Initiatives
Some see welcome offerings and VIP programmes as a serious issue that must to be addressed in future law. We’ll examine the provision of free bets, which frequently come with a lot of restrictions and hefty wagering requirements.
The UK Gambling Commission also believes that VIP programmes encourage at-risk behaviour because they specifically target high-value consumers more prone to gambling problems. VIP managers’ aggressive sales techniques will undoubtedly be prohibited, and VIP programmes might even be outlawed.
Conclusion
The newly established restrictions must strike a tricky balance. Bookmakers have already discussed the costs associated with lowering the maximum stake on fixed-odds terminals. They are concerned that limiting stake and deposit amounts and banning promotions for high-value customers online will have a similar effect. A group of MPs with broad backing is also working hard to make this new gaming act the most significant change in regulation in decades. The next gambling act won’t likely make bookmakers happy, but it will aid those who are having trouble controlling their gambling, which is healthier for the industry’s long-term interests.