Gambling Industry Vets Lobby for Their Stop Gambling Harm Initiative
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Mercury Private Equity was the first institutional investor to support Paddy Power. The trio is no longer actively involved in any of the company's activities. They are now lobbying for important legislative changes that would cut the growing number of problem gamblers in the industry.
Gambling industry vets are lobbying for change in the industry. They believe that the current laws are not effective and that institutional owners should take the lead. Ireland counts around 30,000 problem gamblers. The government has been trying to revamp the laws for a long time. The new regulations are expected to be implemented in 2023. Irish gambers make the biggest losses per capita on the planet. There are also problems with virtual gambling.
Stop Gambling Harm wants to create a clear and mandatory distinction between online gambling and betting on sports. Several operators have already started to show their support for the initiative. Flutter wants the company to introduce mandatory spending limits for players under the age of 25. The number of online gamblers has gone up nearly a fifth in the UK and Ireland. The Irish government plans to set up an independent gambling regulator.
