Government Introduces Statutory Levy and Online Slot Stake
Culture Secretary Lucy Frazer
The UK Government has announced new measures yesterday, aimed at reducing gambling harm, including the introduction of a statutory levy and stake limits for online slots. These initiatives form part of a broader effort to protect vulnerable individuals while ensuring a fair and regulated gambling environment.
The statutory levy, a long-debated reform, will require gambling operators to contribute to a central fund designed to tackle gambling-related harm. The funds will be directed toward research, education, and treatment programs, marking a significant step in addressing the social impact of gambling. The levy, set to be implemented in the coming year, aims to ensure the industry plays a direct role in mitigating its potential negative effects.
Additionally, the government plans to introduce stake limits for online slot games, with proposed limits ranging from £2 to £15. The exact limits will be finalized following further consultation, with special attention given to younger players, for whom lower limits may apply. These measures are intended to reduce the risk of significant financial losses for individuals engaging with high-intensity gaming products.
Culture Secretary Lucy Frazer highlighted the importance of these measures, stating: “The gambling white paper set out our vision for a new era of gambling regulation, and we are determined to deliver on our commitment to make gambling safer for everyone.”
Tim Miller from the Gambling Commission welcomed the reforms, emphasizing their alignment with the regulator’s goal of creating a safer gambling ecosystem.
The introduction of these measures represents a significant shift in the UK’s approach to gambling regulation, balancing industry interests with consumer protection. The government’s next steps will involve further consultations to ensure the measures are practical and effective for all stakeholders.
Industry operators and stakeholders are encouraged to participate in the upcoming consultations to help shape the future of gambling regulation in the UK.
28 November 2024
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