In recent months it has been reported by the media that the UK’s gambling industry regulator is considering putting limits, for example, £2 limits on the amount players will be permitted to bet when playing your favourite games. This has been met with opposing views and has ignited a conversation about player’s freedoms to spend what they wish, casino’s ethical responsibilities and the government’s responsibility to put laws in place to protect players from problem gambling. It was said that the CEO of the Gambling Commission, Neil McArthur, advised that a decision would be made on this issue in 2020.
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Following the announcement made by MPs who were calling for online slots to be subject to a £2 per bet maximum in November, the stock market saw a huge drop in shares in gambling companies which wiped almost £1.2bn off the gambling sectors market value – there was an uneasy feeling that this could mean big trouble for the gambling and slot industry.
Of course, this is all well-meaning as it is to try to help players who have gambling problems, but what does it mean for players? Well, it’s not really all doom and gloom and it isn’t as restrictive as it at first sounds, so don’t panic! It will essentially mean that online slots will be more in line with high street bookmakers and land-based slot machines so that any slot game you play in the UK, whether online or offline, will be reduced to £2 per spin. This is a bid to help protect the most vulnerable players in our society from harm and falling into problem gambling.
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This comes after stricter regulations which were implemented on high-speed electronic slot machines, which are also referred to as fixed-odds machines, back in April 2019 which was also limited to £2 per spin, down for a limit of £100 – which is a huge difference. Let’s face it – unless you are a really high roller with a huge bankroll, you most likely wouldn’t want to play £100 per spin in any case. This will mean that players will be given a helping hand to manage their bankroll so they aren’t losing money at a rapid rate.
However, the fact that most slot machines were controlled by the mafia led to extensive legislation against them. This included regulations and restrictions pertaining to the sale and transportation of slot machines. In most cases, slot machines were restricted to private social clubs only, and were not permitted in public establishments. It also believes a certification system for all gaming halls and outlets offering slot machines should be implemented, to help consumers distinguish legal from illegal offerings. This would also simplify enforcement of regulations, it added. In addition, the association argues in favour of a qualification system for gaming machine professionals.
Many players agree with the limits especially those who have run into trouble whilst gambling in the past by spending over their budget and many say this change is a great way to set the parameters for gambling in the digital age.
The changes didn’t come as much of a surprise to the Betting and Gaming Council, who expected the change but also voiced their worries that if the UK gambling market doesn’t remain competitive it could drive some players into playing slots on illegal gambling sites which is certainly not something players should consider.
Despite any future restrictions, you will still be able to play your favourite slot games and place your bets – the move will just mean your bankroll will be safeguarded and your slot play might just last a bit longer! If you’re already a player who places low bets to enjoy the games for as long as you can, you may not even notice the difference!
UK legislators are calling for the Gambling Act of 2005 to be amended as they believe that the current regulations are not stringent enough to govern the online gambling industry in the UK that generates over £5.6 billion annually.
UK MPs released a controversial report which calls for a number of changes to be made so that online gambling can be better policed in the country. Some of those changes include imposing a max betting amount on online slots, banning the use of credit cards and setting restrictions on VIP accounts.
The All-Party Parliamentary Group (APPG) are pushing hard for gambling laws to be changed and they have a number of suggestions to make.
Reduce Online Slot Machine Bets
The UK government caused a lot of controversy when it passed a law to reduce the maximum bet for fixed-odd-betting terminals (FOBTs). That law came into effect earlier this year when the maximum amount was reduced from £100 to £2. This was done in order to curb over spending at FOBTs and also control the increase of problem gambling numbers in the country.
Online slots are by far the most popular form of online gaming and casino operators tend to pack their portfolio with a high number of online slot titles as they know that slot games bring them the most revenue. This is why a number of MPs are pushing for a minimum bet amount to be made mandatory for online slot games.
In a statement, Duncan Smith, APPG vice-chairman said
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It is outrageous that there are not stake limits online, that gamblers are still able to gamble using credit cards online and that operators are able to continue to offer inducements to the vulnerable without proper sanction.
The report stated that since gambling laws permit a max bet of £2 at FOBTs, it is only fair that the same restriction is applied to online slot games.
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Other Recommendations From The Report
The report was compiled after government officials spent six months working closely with gambling operators and addicts to see how things work on a day-to-day basis. The interim report was published by the APPG and the official report is expected to be released later this week.
The report also pushes for a complete ban on credit cards at online gambling sites and for operators to stop granting VIP players special bonuses including high credit.
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Carolyn is our legislation expert, with a background in law she is able to cover the current state of gambling around the world