UK govt finally publishes gambling review

(Sharecast News) - The UK government's long-awaited and much-delayed gambling review was finally published on Thursday as it sought to replace outdated legislation drawn up before the proliferation of betting apps on mobile phones.

Plans include a mandatory 1% levy on all industry revenues, stricter affordability checks to stop punters racking up massive losses, a £2 - 12 bet cap on online slot machines and curbing "free" spins.

Despite growing concerns about problem gambling and the devastation it brings to families and individuals, the Department for Culture, Media and Sports (DCMS) said all the proposals will go out to further consultation, meaning more delay.

If any legislation actually reaches parliament it will have taken almost an entire parliament to do so, given former prime minister Boris Johnson pledged change in his 2019 election manifesto. The next election must be called by January 2025.

The white paper updates the 2005 Gambling Act passed by the Labour government of Tony Blair government, who was enthusiastic about the construction of Las Vegas-style "super casinos" across the country, particularly in the north, to boost economic growth.

His plan was abrubtly squashed by successor Gordon Brown in 2007, who told parliament at the time that regeneration might be "a better way of meeting [the] economic and social needs" of deprived areas than building casinos.

Online gambling now accounts for the majority of the £11bn that the sector generates from British punters every year.

Reporting by Frank Prenesti for Sharecast.com

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