Online casinos in the UK are being subjugated to maximum stake limits, like the type of stake limits they use on the fixed-odds betting terminals, also known as FOBT. What sparked this change was a recent investigation committed by the several MPs within this jurisdiction. They demand an entire overhaul of the gambling laws in place in order to change things suited to the results of the report.
The report mainly focuses on the increase in gambling-related incidents, including those of mental wellbeing. High-profile Conservatives have listed several measures they wish to take place with this new rework of the system. A high-profile Conservative, Iain Duncan Smith, is the leader of this new list of demands. The requests to online casinos are as followed:
- A £2 stake limit for slot machines.
- Refusal of credit card betting.
- VIP accounts to have further restrictions.
- Have more investigation into non-disclosure agreements.
What’s more, is that the new overhaul demand also requests to update the Gambling Act 2005, which was presented by the Labour party all them years ago. This is due to the belief that this system is incredibly outdated, unsuitable for running a sector which brings in the country around £5.6 billion per year.
It is said that the APPG (All-Party Parliamentary Group) have more influence over the gambling laws than people realize, meaning that they are very confident to make changes to the new laws regardless of how the general election turns out. Other members of parliament are already sympathetic to stricter regulations. Boris Johnson, the current Prime Minister, is one of them. This is after he had openly criticized the government on the use of FOBT’s.
The six-month enquiry has led numerous results that point towards the approval of stricter systems to be put in place. Duncan Smith, the Vice-Chair of the APPG, believes it is outrageous that these changes have not been made sooner.