Several UK gambling operators will bet hard on responsible gambling and will invest €67 million a year to fund treatment for problem gamblers.
UK.- Problem gambling is a major concern worldwide as the gaming industry grows. However, UK operators are ready to tackle the issue and have committed to funding responsible gambling initiatives.
William Hill, Ladbrokes Coral, Paddy Power Betfair, Skybet and Bet 365 will invest €67 million a year to take action. The money will fund treatment for problem gamblers in order to mitigate their potential negative impact.
The money will be turned to state coffers through a voluntary levy, currently set at 0.1% of their profits. They will progressively increase it until it gets set at 1% by 2023.
Furthermore, they have committed to spend an extra €111.8 million on addiction treatment. They’ll aid health organisations and work alongside them to determine where to send the money and act.
Another key topic is the advertising of the industry. All five of the UK operators have committed to looking into how they promote their business. In order to check how they fare, they’ll report to the UKGC.
Peter Jackson, Flutter CEO, owner of Paddy Power Betfair, said the new funding commitment was “unprecedented”. He also said that it would allow a significant expansion in treatment.
“Our aim is nothing less than a step-change in how we tackle gambling-related harm,” Mr Jackson said, as quoted by The Independent.
Culture secretary Jeremy Wright said: “We will monitor closely the progress of these new measures and encourage the wider industry to step up. The government will not hesitate to take further action to protect people from gambling-related harm.”