UK.- February 26, 2024 www.zonadeazar.com [1]The UK government has officially announced the implementation of stake limits for online slot games across the country’s gambling industry, aiming to safeguard individuals from the potential harms of gambling.
Starting in September of this year, a maximum stake limit of £2 will apply to online slots for individuals aged 18 to 24, while those aged 25 and over will face a £5 limit.
These stake limits align with those in place for casinos and aim to mitigate the heightened risks of significant harm and life-altering losses associated with online slot games.
The decision follows a 10-week consultation period during which industry experts, academics, treatment providers, and individuals mostly supported the proposed statutory limits outlined in the gambling white paper.
The move is part of the government’s broader initiative to modernize the gambling sector for the digital age and address the specific challenges posed by online slot games. Stuart Andrew, the Gambling Minister, emphasized the higher problem gambling rate associated with online slots and the increased vulnerability of young adults to gambling-related harms.
The announcement received backing from organizations such as GambleAware and the Betting and Gaming Council (BGC). GambleAware’s CEO, Zoë Osmond, welcomed the lower stake limits for under 25s, acknowledging the concerning trend of increased harm in this age group. BGC CEO Michael Dugher supported the government’s decision, emphasizing the importance of considering the overall impact on BGC members and urging a balanced approach to regulation.
The stake limits will be enforced through secondary legislation, taking effect in September with a six-week transition period for operators to comply with the £5 stake limit, followed by an additional six weeks for technical adjustments to meet the £2 limit for young adults. The government plans to release responses to broader measures outlined in the white paper soon, including support for the land-based sector, a statutory levy for research, prevention, and treatment, as well as financial risk checks.
GambleAware recently published data indicating public support for financial risk checks to prevent gambling-related harm.
Edited by: @MaiaDigital [2] www.zonadeazar.com [1]