The UK Gambling Commission (UKGC) has confirmed it is considering introducing a maximum stake of £2 (€2.40) for online casino games.
UKGC CEO Neil McArthur dropped the bombshell when talking in front of the Gambling-Related Harm All Party Parliamentary Group (APPG), and said he expected a decision before August this year.
Though here at AYO.NEWS we reported online games were next in the firing line as long ago as April 2019, share prices in the major British gambling operators nosedived on the news, with William Hill and GVC Holdings both falling 7%.
In November last year the APPG called for online stakes to be reduced in line with the restrictions placed on land-based fixed-odds betting terminals. FOBTs had their limits slashed to £2 last April, resulting in a culling of retail betting shops across the UK.
Commenting on the news a UKGC spokesperson said:
“We said last October we would be looking at online stake limits as part of our ongoing work to reduce the risks of gambling related harm.
“This work is in addition to us focusing on VIP practices, advertising technology and game design. We will publish our assessment and next steps for online stakes and further protections later this year.”
AYO.NEWS says:
Looking at it logically, it seems almost certain online staking limits will have to be brought into line with land-based FOBT limits – otherwise the FOBT limits are rendered useless. However, £2 limits, along with crackdowns (and possibly complete bans) on VIP and other promotions, applied to the world’s largest regulated gambling market, will clearly have massive repercussions for the European iGaming industry as a whole – and particularly impact the economies of jurisdictions like Malta – where iGaming is a central plank of the economy.
Our take; these will be introduced, and companies should brace for impact.
AYO.NEWS says features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited.
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