Gambling companies await law review
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The UK government proposes overhauling current gambling legislation. The Conservative Party pledged to review gambling laws in its manifesto at the 2019 general election. The gambling industry turns over around £14 billion every year. It is estimated that gambling is responsible for more than £10 billion in losses.
The UK Gambling Commission provides gambling licences to the UK's best online casinos and sports betting sites. The Commission enforces gambling legislation and regulates all commercial casinos, bookmakers, bingo halls and the National Lottery.
Gambling companies are awaiting the UKGC's review of gambling laws. Punters may need to prove they have a source of income to show they can continue gambling. Ministers are backing a proposed ban on sponsorship at sporting venues and on sports shirts. VIP schemes could be banned. Online casinos are monitored by the operators. . The UK GC and the Advertising Standards Authority feel that the amount of sponsorship is at levels that could prove to be dangerous. It is the industries that are "cash rich" that provide the most sponsorship for sports. They are watched by younger audiences.
Ministers are backing a proposed ban on sponsorship at sporting venues and on sports shirts. Punters may need to prove they have a source of income to show the UKGC they can continue playing and gambling. VIP schemes could be banned. Operators will need a higher deposit limit. i.e. monthly deposits at something like £500. i v. . i . v . a. The current system allows you to choose your own deposit limits. Anyone with a gambling addiction is likely to set these high. Online casinos are monitored by the operators. They can step in if they feel someone is displaying signs of a problem.
Gambling companies are awaiting a law review. The UK is fast becoming one of the biggest gambling countries in Europe. Pundits predict that the new legislation will put the focus more on the punter. Online casinos will have to take this into account if they want to carry on trading.
