The UK Parliament has approved new regulations introducing a maximum stake limit for online slot games, marking a significant change in British gambling regulation.
The measure will impose a limit of 5 pounds ($6.23) per game for adults aged 25 and over, and a stricter limit of 2 pounds for players aged 18 to 24.
Stephanie Peacock, Deputy Minister for Culture, Media and Sport in Parliament, emphasized that online slots are the highest-risk gambling products and noted that such games are prone to causing a high proportion of addictive behavior and significant financial losses.
Currently, the total gambling revenue from the online gambling market is about 6.9 billion pounds, with slots accounting for 3.6 billion pounds.
Reactions to the regulation among lawmakers vary. Opposition spokesperson Louie French expressed concerns that it might impact the gambling industry and local businesses, while Sir Iain Duncan Smith, chair of the Parliamentary Group on Gambling Harm, believes that the 5-pound limit is too high compared to the 2-pound limit in physical venues.
The new measures will be implemented in stages, with operators having six weeks from the date of implementation to enforce the 5-pound limit, followed by another six weeks to implement the 2-pound limit for younger individuals.
It is noteworthy that these limits are built on the foundation of safety measures introduced by the Gambling Commission in 2021, including minimum spin speed and the prohibition of autoplay features.
The government has committed to reviewing the stake limits within five years to address concerns about their effectiveness and impact on the industry.
In addition to limiting stakes, the government also imposes a statutory tax on gambling operators to fund research, prevention, and treatment of gambling-related harms. This tax will allocate 20% for research, 30% for prevention, and 50% for treatment services.
This move formally establishes a funding mechanism that previously relied on voluntary donations from the industry.
The Liberal Democrats support these regulations, viewing them as a progressive step in addressing gambling issues. However, they urge the government to take further action on regulating gambling advertising, black market gambling, and loot boxes in games.
In Northern Ireland, where online gambling remains unregulated, Jim Allister (TUV) calls for immediate reform to address the region's higher-than-average gambling issues. He criticizes the lack of oversight and regulatory mechanisms for online gambling in Northern Ireland and urges the UK government to pressure local authorities to take action.
