The reduction from £100 to £2 will come into force today and UKGC has warned operators that it will follow implementation.
UK.- After years of discussing what the maximum stake on fixed-odds betting terminals (FOBTs) should be, UK politicians determined that it must be lowered from £100 to £2. Today, April 1, this implementation will come into force.
The UK Gambling Commission (UKGC) revealed that it wrote to bookmakers to remind them of their responsibilities in ensuring that consumers are protected during the implementation process and after.
The new rules are intended to reduce the risks that players can lose large amounts of money in a short space of time. Ahead of the implementation, the Gambling Commission’s Chief Executive has reiterated to bookmakers the regulator’s expectations about how the changes should be managed.
Neil McArthur, chief executive of the Gambling Commission, said that the commission has been closely monitoring operators’ plans to manage the implementation of the stake cut and that it will continue to watch very carefully to ensure that any changes and developments to these products are done with a focus on customer safety.
“Together with the Government and the industry we must continue our ongoing work to make the whole industry safer – this includes continuing to make progress with making other products safer, as customers may move to gamble in other ways following the stake cut – including online, mobile and on the high street.
“ It’s imperative that operators invest in and use data, technology and measures to identify harmful play and can step in to protect players when needed. They should be innovating to protect their customers, as much as they do to make a profit,” McArthur added.
Jeremy Wright, Secretary of State for Digital, Culture, Media and Sport, said: “Reducing the potential loss per spin from £100 to £2 is a significant step forward in protecting vulnerable people. The Government’s actions and ambitions stretch much further and we are looking at further treatment of those who have suffered from gambling-related harm, whether gambling on credit should be limited and considering what actions are necessary to tackle problem gambling online.”
The UKGC is set to tighten online gambling rules
The commission is set to tighten online gambling rules by unveiling new identity and age check rules. This will come into force in May, and will guard against the risk of children gambling, prevent children from playing free-to-play versions of gambling games on licensees’ websites, and increase the likelihood that someone will be identified if they attempt to gamble while self-excluded.
The Gambling Commission is also currently examining new areas for potential change including banning the use of credit cards for online gambling, the introduction of industry funded gambling blocking software, and improving the ways operators interact with a customer who may be experiencing gambling-related harm.