Upcoming Changes in UK Regulations Regarding the Gambling Sector
Despite the frequent amendments and changes in the regulations gambling industry in the United Kingdom flourishes. New changes are expected to be done to the maximum stake on fixed-odd betting terminals (FOBTs) around the country.
Now gamblers are allowed to bet as much as £100 per spin on the popular FOBTs. But after the review of the gambling sector by the Department of Culture, Media and Sport (DCMS) a necessity has been seen to change this law.
There has been much discussion and different proposals were considered of the possible new gambling law. For example, changing the maximum bet at £50 or £2.
According to the DCMS the government has started consultations on the rate of the bet cut. The final decision will be made as soon as all the evidence has been considered
These changes aim to ensure a safe and sustainable industry and to protect vulnerable people and children.
The changes referring the FOBT bets may be the right issue of problem gambling. Stake cuts could be a step to the right direction of solving the problems with addiction. From the other hand, those who already have a gambling problem will not necessarily stop or change their habits only because of a change in the maximum bet threshold. The changes should be towards protecting those in danger of falling into bad gambling habits.
The industry has shown that stake cuts will definitely have problems such as shop closures. This will affect tax revenue, jobs and others.
The future will show if machine users will decrease their spend to sports betting with the new regulations. Policy made in this direction may result in a reduction of funding for horse racing. Whether the new regulations will make any positive difference or not will be seen.