Online Slot Limit In UK To Be Announced This Friday Reports Claim
According to reports, most notably The Guardian newspaper the UK government is set to introduce a £2 maximum stake for individuals under the age of 25 and a £5 maximum spin for those above that age on Friday this week. These limits are reminiscent of the ones imposed on fixed-odds betting terminals (FOBT) in 2019. The Department for Digital, Culture, Media, and Sport has not yet confirmed or commented on these reports.
The idea of setting limits on online slot machines was first proposed in the white paper on gambling reform released last year. Since then, the government has been consulting on the appropriate limit, considering a range between £2 and £15. Setting the limit at the midpoint of £8.50 could potentially cost the industry up to £185 million.
Industry operators have voiced their concerns about the introduction of strict maximum stakes. They argue that such limits would increase costs and potentially harm their businesses. The Guardian reported that industry sources believe implementing two separate limits for different age groups would further escalate these costs.
Online casinos have become a significant revenue stream for the gambling industry, with online slots contributing a substantial portion. According to figures from the Gambling Commission, online casinos generated revenues of £4 billion in the year leading up to March 2023, with £3.2 billion coming from slots. However, gambling campaigners argue that both FOBT and online slot machines are more addictive than other forms of betting.
Carolyn Harris, a Labour MP who chairs an all-party parliamentary group on gambling-related harm, has welcomed the proposed £2 limit for individuals under the age of 25. However, she believes this limit should be extended to all age groups. Gambling campaigners argue that stricter regulations are necessary to protect vulnerable individuals from the potential harm caused by excessive gambling.
