Tom Watson, the Labour Party deputy leader is reportedly set to call for even more stricter regulations on the online gambling industry. The goal is to bring the online gambling regulations at par with the regulations that govern the operations of land-based casinos in the United Kingdom. These proposed regulations will include an overhaul of existing online gaming laws and the introduction of a new set of restrictions on how much consumers are allowed to bet as well as the inclusion of checks to ensure that the gamblers do not place bets that they cannot afford. There would also be restrictions on the speed of play.
“Whereas gambling in the offline world is highly regulated, the lack of controls on online gambling is leading to vulnerable consumers suffering huge losses,” Watson says.
According to the Labour Party deputy, the proposed set of stricter regulations are aimed at tackling problem gambling which he described as “Britain’s hidden epidemic” – apparently, the current laws are “unfit for the digital age.”
New Category
The Labor Party’s proposal will further involve the creation of a new ‘E category’ – this will regulate online gaming products in the same way that stakes and prizes on fixed-odds betting terminals (FOBTs), as well as gaming machines in casinos and other betting facilities, are regulated. In essence, the party is going to call for the introduction of a culture of limits on online gambling and this will involve the adoption or integration of a system of thresholds that will be placed on the spend, stake, and speed in order to better protect consumers from gambling-related harm.
Gambling addiction or problem gambling and underage gambling have become such major issues in the United Kingdom that it, in many ways, justifies the need for more interventions. However, with the current wave of gambling reforms being seen through by the UK Gambling Commission, it is guaranteed that the Labour Party’s proposal will be met with equal measures of support and criticism.
Not Everyone Is Impressed
While the proposed regulations are meant to ensure that the gaming industry is fair and safe for consumers, the Remote Gambling Association (RGA) has recently issued a warning pointing out the fact that some of the restrictions being proposed are unnecessary and therefore instead of offering the desired solution, they would, in fact, have a negative effect on both the players and the casino operators.
“We support moves towards affordability and targeted intervention to ensure that those at risk of harm are identified without restricting or penalizing those who enjoy their play and gamble responsibly. Online operators continually monitor patterns of play, making thousands of interventions each month to prevent harm occurring and we will input fully to this responsible gambling policy process,” the RGA said in a statement.
The RGA further pointed out that the online gambling industry in the United Kingdom is already implementing a number of reasonable regulations and has even greater safeguards integrated into the sector.
