All casino and betting companies operating in the UK will soon be required to pay a mandatory levy to raise funds for problem gambling research and treatment. The new Labour Party administration announced this levy, which will bring in approximately £100 million per year, replacing the current voluntary system. Some operators have been contributing generously to the voluntary levy, while others have been giving significantly less.
In addition to the mandatory levy, the government will also be implementing a cap on online slots stakes. Currently, there is no limit on how much can be bet on online slots, but under the new regulations, the maximum stake will be £5 per spin for those over 25 and £2 for 18 to 24-year-olds. These measures are aimed at protecting individuals from the harms of excessive gambling.
Baroness Twycross, the gambling minister, emphasized the importance of these changes in providing support for those at risk and reducing the stigma around gambling-related harm. The introduction of the mandatory levy will play a significant role in funding research and increasing awareness of gambling-related issues.
While the Betting & Gaming Council (BGC) initially opposed the mandatory levy, they have since backed the policy. The BGC represents industry interests and recognizes the importance of supporting responsible gambling practices. However, the BGC chief executive, Grainne Hurst, expressed concerns about the government’s approach, suggesting that the majority of individuals who gamble do so safely.
It is crucial for the government to strike a balance between addressing problem gambling and ensuring that responsible gambling is still accessible to the majority of the population. By implementing these new regulations, the UK aims to create a safer gambling environment for all individuals involved.
The changes will not go into effect until next year, giving operators time to adjust to the new requirements. The levy system will be based on a percentage of revenue, with online businesses expected to contribute more due to lower operating costs. Overall, these measures represent a significant step towards enhancing consumer protection and promoting responsible gambling practices in the UK.
