Apr6
bet365 Receives Fine of £582k From the UKGC for Violating AML, and Social Responsibility
UK Bookmakers to Give More Contribution to Prevent Gambling-Related Harms
June 22, 2019 Aleksandra Zolotic
Several leading gambling corporations in the UK decided to make a significant increase of £100m (USD 125 M) in the voluntary levy on their gambling profits. The list of companies includes William Hill, Ladbrokes Coral, Betfair Paddy Power, Skybet and…
…Bet365, all of which have offered to up the levy from 0.1% to 1% over the next five years. This means the new level would eventually raise £100m per year for gambling charities.
ing Forces
The UK Gambling Commission (UKGC) recently pointed out that the need for more staff, research, and treatment required a significant annual contribution in of funds. To be precise, the overall cost is £70m. The operators made the pledge in a letter to the Department for Digital, Culture, Media, and Sport (DCMS). As they said, they would also put special attention on increasing the amount…
…of safer gambling messaging. Moreover, they would constantly revise the “tone and content” of its advertising. The preemptive offer is part of an effort by the industry to improve its image after what insiders acknowledge was a reputation-damaging battle over Fixed Odds Betting Terminals (FOBTs). The final outcome eventually saw the maximum stake in any one spin decreased from £100 to £2.
More Funding Needed:
Jeremy Wright, Secretary of State at the DCMS, stressed that the gambling industry must step up on social responsibility and keep players safe. This can be done by making more funding available for research, education, and treatment to tackle problem gambling. He added as follows:
“I have met the major players in the sector recently and my department is in discussions with them on a strong package to increase their financial contribution, as well as make meaningful commitments on other measures to help ensure people gamble safely. Protecting people and their families from the risks of gambling-related harm is a priority for this government and I am encouraged that the sector now recognizes that they need to do more.”
Setting Priorities
The gambling firms, making a great part of the industry, need to collaborate closely to address gambling-related harm. The most important is knowing to prioritize the protection of the young and vulnerable. Moreover, the corporations have already unitedly agreed to put a voluntary “whistle to whistle” ban on advertising during sporting events starting in August of this year.
Describing Britain’s “gambling epidemic” as a public health crisis, Labour deputy leader, Tom Watson, has called for all gambling firms to be forced to reapply for their license to review their commitment to corporate responsibility. He has also recommended the establishment of a gambling ombudsman to provide redress for consumers who are treated poorly.
Source:
“UK bookmakers increase contributions by USD 125M to prevent harsher gambling restrictions”, yogonet.com, June 20, 2019.
Leave a Reply
Related News
This is excellent! Operators certainly can influence a lot and enhance the protection of an increasing number of players dealing with issues.