Strict UK Regulation to Affect Online Gambling Market
It is well-known that the United Kingdom is one of the largest online gambling markets in the world. And the figures are on the rise as well! Not only are the casino revenues are going up…
…but each year, more people are landing jobs in this industry that is considered to be beneficial for everyone. But is it?
The UK government is worried that the gambling addition may be on the increase with more and more people heading online to place their bets.
That is why earlier in the year the state government introduced restrictions and regulations that will have effects on the entire industry in the UK. Further in the article, the summary of major decisions is provided as well as the way in which new measures are going to reshape the industry.
The UK Gambling Commission has conducted several studies regarding the gambling addiction and the new regulations brought by the government are aimed to protect a part of the population which is the most vulnerable to developing it…
…and the first aspect of gambling in the UK that will be changed is marketing!
It is believed that the ads are misleading, making the users think that they can win easily without previously investing their own money. For instance, phrases such as “Free Bonus no Deposit,” “Free Betting,” “Bet Now,” are expected to be either completely prohibited or heavily scrutinized.
It is important to point out that UK casinos and providers spend a lot of money on the advertisements and almost 50% of the total sum is used for online ads. The Gambling Advertising and Marketing Spend in Great Britain 2014-2017 reported that…
…£1.56 billion is spent by UK gambling companies on marketing alone whereas almost half of that money is used online.
And this is a clear indication why stricter regulations are advocated in Great Britain regarding marketing and the way casinos and gambling in general are placed for the public.
Reducing the Limit
Some games such as roulette come with a limit and currently, players can place up to £100 pounds every 20 seconds. That number is expected to be slashed to only £2 pounds per 20 second, therefore protecting liable gamers.
Adjustments to Be Made
The new gambling regulations will certainly change the way online gambling works in Britain. There is always the ugly side and the small online providers might be seriously affected and even get out of business.
Meanwhile, big names such as William Hill or 888 Casino are already used to the ever-changing market. They are going to adapt over time but there is a major issue…
…and that is to finish everything on schedule and avoid massive fines.
However, it is quite difficult to predict how the newly-enforced measures will affect the online gambling industry as a whole. The idea is to create a safer environment for the users while the gaming industry in the UK is predicted to grow!
“How the New UK Regulation is Impacting Online Casino Marketing”, econotimes.com, December 4, 2018.