UK Gambling Firms Agree to Five Safer Gambling MeasuresNovember 28, 2019
UK Gambling Firms Agree to Five Safer Gambling Measures
Top UK betting companies met to develop a new set of safer gambling rules that they plan to enforce, as the embattled sector tries to keep the government from imposing additional regulations on the sector.
Ten popular gambling operators such as Bet365, Flutter Entertainment, and Genting collated the five new rules. They made a corporate statement, describing the rules as the most exhaustive because of the representation from an extensive collection of leaders. They claimed the leaders from all over the sector came together to support the nationwide master plan of the UK Gambling Commission to minimize gambling damage.
The betting businesses developed the five safer betting rules through the Senet Group, an industry-financed party. The body’s objective is to foster excellence in the sector and uphold the UK Gambling Commission’s job of making services more secure and equitable for punters. However, criticisms of ineffectiveness have flooded Senet Group’s previous campaigns.
An independent body will monitor the five pledges and report on the developments publicly. The aim of the new measures is to:
- Shield youths and check underage betting
- Offer more support for betting harm treatment
- Build up and expand the advertising and marketing rules of practice
- Shield and empower consumers
- Foster a safer betting culture
One of the initial steps towards fulfilling the pledges is the development of a program to teach youths about gambling risks. The companies have already released $12.9m to fund the program, which is expected to run for an initial four years. Gamcare charities and the Young Gamers and Gamblers Education Trust are responsible for running the program.
The companies will also enforce a fresh set of rules to govern the functioning of sponsorships and direct and affiliate marketing.
What Triggered the Issuance of Pledges?
The issuance of the five pledges came as when a section of MPs released a provisional report that demands substantial overhauls in the industry. Among other courses of action, the report advocates for the diminishing of online gambling house games’ maximum stake to $2.58.
As a result of the report’s release, gambling businesses incurred losses to the tune of $1.55bn. The industry’s firms have confessed that the new move has come as an endeavor to self-regulate ere the government imposes additional stern measures on them.
A New Representative Body Created
The bulletin concerning the industry pledges came with something else: the Betting and Gaming Council’s launch. The representative organization will take care of the interests of betting, gaming, and casino businesses. The Betting and Gaming Council’s goal is to create secure, fair, and pleasant betting conditions for all.