Triennial Review Gambling Uk
GVC Holdings welcomes the publication of today’s report of the House of Lords Gambling Industry Committee into the social and economic dimensions of gambling.
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Oct 25, 2016 The long-delayed Triennial Review into gaming machine stakes and prizes in the UK has finally been announced by the UK government, ending a stalemate over their future that has lasted all summer. Oct 11, 2017 As the long awaited triennial review of gaming machines stakes and prizes looms, it’s seemingly becoming increasingly likely that the result will be a crippling clampdown on the maximum stakes on fixed-odds-betting-terminals (FOBTs). Since the introduction of the Gambling Act in 2005, the political maelstrom that has engulfed FOBTs has inevitably intensified the levels of.
Triennial Review Gambling. Gambling triennial review highlights the problems of excessive gambling on the high street; Stake decrease guaranteed, and could be as low as £2; A 12 week consultation will decide whether to limit the stakes to £2, £20, £30 or £50 Gambling Triennial Review. 1.1 Prior to the Gambling Act 2005, a “triennial review” of the maximum stake and prize limits across different types of gaming machines became established, with the Gaming Board of Great Britain.
Coinciding with the Committee’s report, GVC has also today released the findings of a new national poll, which provides evidence of the broad support gambling enjoys as a legitimate leisure activity amongst the British public. The survey of 2,000 Britons, conducted in May 2020, finds that nearly 80% of regular gamblers see betting as part of the leisure industry and a clear two-thirds of respondents support an individual’s freedom of choice to gamble (see infographic below).
Kenny Alexander, GVC’s Chief Executive, commented: “This report is a thoughtful and measured contribution to the debate on how to ensure the regulated gambling industry can thrive, provide entertainment and enjoyment for the millions of Britons who like a bet.
While there is only a small minority of customers who run into problems, it is important that we put a safety net around them. We fully support the recommendation to bring forward the UK Government’s Review of the Gambling Act and we will play a full and active role in this process.
“I’m also glad to see detailed recommendations for a triennial review of the Gambling Commission, the licensing of affiliates, and the need for more research into problem gambling – particularly as claims around the scale of the issue frequently bear no resemblance at all to the independent research already available.
“As a socially responsible business, GVC is committed to constantly improving our player protection policies. We have already adopted several of the measures recommended in this report and there are others that we would like to see implemented across the industry.
“I am however concerned by the findings of our own research which highlights the lack of awareness amongst the general public of the numerous and sophisticated tools GVC and the industry have introduced to put control where it belongs: in the hands of our customers. We have to do a better job of communicating that, because those who are implacably opposed to gambling as a matter of principle are actively seeking to damage the industry through onerous regulation, which will ultimately drive customers into the hands of the unregulated black market. It is important that all stakeholders work together to keep gambling effectively regulated for all parties.”
The long-awaited triennial review is set to be released later this week, detailing reforms on the controversial form of betting that has caused quite the storm of concern amongst MPs and government officials.FOBT’s have long-been regarded as the lifeblood of UK bookmakers, however, this pivotal decision will dictate what the landscape will look like in the future for the highstreet industry.
The Department for Digital, Culture, Media and Sport (DCMS) is about unveil a clampdown on the ‘crack cocaine of gambling’, fixed-odd betting terminals. The set changes could have a massive impact on UK bookmakers, potentially slashing hundreds of millions of pounds from their profits.
Currently, the machines allow for punters to bet £100 per spin on the terminals, which is equal to £300 a minute. The government is set to recommend reducing this stake to £50, £20 or £2 a play.
According to figures posted by the Gambling Commission, £1.7bn was spent on FOBTs between October 2014 and September 2015, accounting for 56% of betting shops’ profits.
If the government goes ahead with the minimum bet of £2, it is likely that bookmakers will campaign hard against this ruling, arguing that such a cut would be the industry’s ruin.
If the maximum stake is reduced to £2, half of the 9,000 betting shops in the UK becoming unprofitable and risk closure by 2020.
The future of FOBTs is somewhat unclear, with bookmakers in the UK anticipating significant financial impacts, which could potentially spark a wave of consolidation.
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Last month, John Whittingdale, the former culture secretary, spoke at the annual meeting of the Association of British Bookmakers, saying: “I can’t say I would be surprised if there are quite radical measures produced when we come to it and I think you should brace yourself.”The government’s report is due for publication early this week and will then be followed up by a 12-week consultation that will cement the final decision.
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Chief Executive at Ladbrokes Coral, Jim Mullen spoke to The Financial Times
on the impending results, saying: “If [the government] follows the evidence, they will see that stakes do not affect problem gambling behaviour.“If they do not follow that evidence, it will have an impact on tax receipts at the Treasury to the tune of £250m per annum. There will be an impact on jobs from the sector, with close to 20,000 [positions at betting shops being cut by 2020]. Then there will be an impact on horseracing to the tune of £200m per year.”
Last month, The Financial Times also reported that Breon Corcoran, Chief Executive of Paddy Power Betfair wrote in a letter to Tracey Crouch, Minister at the DCMS, the issue has become “so toxic” that action is critical to “address societal concerns”.
“Whilst we are not aware of any evidence which links stake size to problem gambling, we are acutely aware of the increasing reputational damage to the gambling industry that has followed lack of progress in this area,” Corcoran stated.
“We now believe that the issue has become so toxic that only a substantial reduction in FOBT stake limits to £10 or less will address societal concerns.
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“I am confident we could operate our retail business successfully and profitability under such circumstances. Other well-run operators should be able to do the same.”
Gambling Consultant, Steve Donoughue spoke to Gambling Insider about the impending results, stating: 'The imminent publication of the Triennial Review should be seen as the beginning of the end of the war on Fixed Odds Betting Terminals and the end of the beginning of the war on online gambling.
'By war, I mean the active campaigning of commercially motivated anti-gambling groups happy to use fake news, a media happy to construct moral panics without providing balanced reporting, an increasingly political regulator happy to tighten the screws at any hint of moral panic and a Parliament, full of emasculated legislators willing to jump on any bandwagon just to show they care regardless of the lack of any evidence to the contrary.
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'Combine this with our supposed allies, competing sectors of the gambling, willing to turn ‘Quisling’ at any moment and the forecast for British gambling over the next five years is not good, rout or surrender a possibility. I would bet money, if I’m still allowed to, that taxes will rise and regulations will become suffocating if immediate action isn’t taken.