UK: Restrictions on online slots
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11 Sep 2024 •
Reading time: 2 minutes The UK government has decided to tighten the screws on online gambling. Since 1st September, new betting limits have been introduced for online slots, marking a turning point in the regulation of this thriving sector. These changes aim to protect young players and reduce gambling-related harm.
Stricter Limits
In order to prevent addiction and protect the most vulnerable players, particularly young people, the authorities have set new betting limits. Under the new regulations, under-25s will now only be able to bet £2 per spin on online slots. Those aged 25 and over are subject to a higher limit of £5 per spin. Previously, there was no specific limit on online slots betting, although fixed-odds slots in places like pubs had a £2 limit in place for five years.
In addition to the betting limits, the UK Gambling Commission is introducing a pilot scheme to assess players’ financial risks. Initially, this will focus on players who deposit more than £500 per month, with credit rating agencies and gaming operators assessing whether these individuals may be at risk of gambling-related harm. The threshold for these financial checks will decrease to £150 per month by the end of February 2025.
Sector under scrutiny
The measures come amid growing concerns about the harmful effects of online gambling. The UK, one of the world’s largest online gambling markets, generated £3.2 billion in revenue in 2023 from slots alone.
What does this mean for the industry?
These new restrictions could have a significant impact on the online gambling industry. Operators, who have generated considerable profits from slot machines, will have to adapt to these new constraints. Some could see their revenues decrease, others could be tempted to develop new products to attract players.
Players, for their part, will have to review their gaming habits. The betting limits could reduce the appeal of slot machines for some, while encouraging others to turn to other forms of online entertainment.
In imposing these new rules, the British authorities are seeking to strike a balance between consumer protection and maintaining a thriving industry. While these measures are likely to reduce the risks of addiction, they could also hamper innovation and limit players’ freedom of choice.The coming years will be crucial in assessing the real impact of these new regulations on the UK online gambling market and on player behavior.