The All-Party Parliamentary Group (APPG) recommended this week that major changes take place within the iGaming industry in the UK. Suggestions include reducing the maximum stake for slots to £2 per spin. An interim report by the group covered an Online Gambling Harm Inquiry which calls on the government to introduce new legislation regarding gambling to focus on the prevention of harm.
Among the findings within the report, the APPG says that there is a ‘disparity’ in the content controls along with the stake and deposit limits, when it comes to online and offline games. According to the group, there is no justification in having slot machine style games that have over £2 stake limits. This limit would be similar to one introduced earlier this year for fixed-odds betting terminals located at betting shops in the region.
Along with the stake reduction, the group is calling for a ban when it comes to funding online gaming with credit cards. Banks should be provided with the ability to determine customer affordability as well as restrictions placed on VIP accounts and gamblers having inducements.
The goal of the APPG is to see more responsibility from operators when it comes to gambling marketing. They want to see a total ban on sponsorship of sports teams and leagues in association with gambling. They also wish to see digital pitch-side promotions halted.
The report also recommends that affiliate marketing be reviewed. The report states that UKGC license holders should stop active trading in jurisdictions that are not formally legalized for remote gambling. License holders should be required to ensure they have protections in place regarding children as well as the more vulnerable.
The major changes requested have caused a huge dip in share prices among UK online gambling companies. GVC saw a drop of over 10% while William Hill was down more than 12%.
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