UK Online Gambling Reforms White Paper

Today, the UK Government made public their proposal to tighten online gambling regulations. Earlier today, the UK culture secretary, Lucy Frazer gave a statement on the UK Online Gambling Reforms White paper. However, while these are just proposals, gambling analysts expect several of these proposals to become law next year.

Several bookie software solution providers have been awaiting these reforms for a very long time. This is because there have been several postponements to the gambling reforms dating back to 2019. Now, the Department for Culture, Media and Sports (DCMS) have finally made them available and ready to review.

According to gambling industry news, these online gambling reforms were made to battle gambling addictions. In particular, they were made to update the current gambling laws to keep-up with the current advances in technology. Specifically, they deal with the internet and smartphone technology which makes gambling available 47/7.

Thus, during today’s announcement Frazer said that these white papers are “bringing our pre-smartphone regulations into the present day.”

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UK Online Gambling Reforms will Introduce gambling limits and Compulsory Limits

These Online gambling Reforms proposals will update the 2005 Gambling Act. She said that this is an important update since today, online gambling accounts for the majority of UK gambling revenue. At the moment, the gambling and sports betting sector in the UK is worth £11bn. Needless to say, the gaming in industry in the UK is very lucrative. Thus, many entrepreneurs want to open a sportsbook in the UK to get a piece of it.

However, the UK government wants in place several checks and balances to protect consumers. These will include introducing checks and stakes limits for online gambling. For example, gamblers who lose £1,000 in 24 hours or £2,000 over 90 days will face checks to ensure they can afford their losses. In addition, it will impose compulsory levy on gambling companies to fund addiction treatment and research.