MP supports UK's gambling reform, calls for a balanced approach
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Amid the ongoing reform of the UK gambling sector, a PM called for a balanced approach in regulation that will strengthen the protection for vulnerable customers without negatively impacting the sector, a recent report reveals.
In a recent report released by The House, Mark Jenkinson MP wrote for the Betting And Gaming Council (BGC), acknowledging that lawmakers need to find a balanced approach to gambling reform in the country. He outlined that there are some 22.5 million adults in the UK that enjoy gambling responsibly every month and engage in online casino gambling, sports betting, lottery or bingo.
However, citing data from the UK Gambling Commission (UKGC), Jenkinson added that the rate of problem gambling is approximately 0.3%, which is considerably low when compared to other regulated gambling markets. Although a majority of gamblers currently enjoy the activity safely and responsibly, he said that this may not be the case if tough gambling regulations are implemented.
"An approach that identifies those at risk and puts in additional protections, while allowing the rest of the public to carry on doing what they love without Nanny State intrusion. That would be the balanced approach," wrote Jenkinson.
Jenkinson explained that this is precisely the reason why the government needs to find the right balance when overhauling the gambling industry. Speaking about proposed blanket affordability checks by anti-gambling lobbyists, he said that those measures may not have the desired effect. Instead, Jenkinson called for a more flexible approach that is able to identify vulnerable people and implement protections for such individuals. On the other hand, according to him, the majority of people enjoying gambling responsibly should be able to continue doing so without being affected.
One of the dangers that tough regulation can bring is to push individuals toward the black market. On that topic, Jenkinson warned that over-regulation will push gamblers to the unsafe, unregulated black market. He added that the black market continues to grow and the number of people using illegal gambling websites "has doubled and the amount staked is now in the billions."
Jenkinson added that the regulated gambling sector in the UK currently contributes billions to the economy, raises billions in taxes and at the same time supports thousands of jobs. "If we tax too hard, if we over-regulate, if we fall for a hard-left narrative that profit is bad, we lose all of those things and much more," he wrote. Finally, Jenkinson showed support for the promotion of information on safe gambling and initiatives such as Safer Gambling Week.
