Gambling is one act that directly or indirectly happens in every corner of the world. Since its legalization in most countries, it has become one of the leading industries/markets for revenue. However, the UK gambling industry can be said to be one of the key figures in the gambling market. As of the year 2018, the United Kingdom gambling market was worth 14.4 billion British pounds. This is from the evolution of gambling for centuries, since when gambling was just when you rolled dice to bet on the war’s outcome. The history of UK gambling is so rich that you could say the act started in the UK.
Over the years, however, since the early 2000s, the United Kingdom has experienced both negative and positive gambling impacts. The negative part is usually the most focused on as there have been reports of people going bankrupt over gambling and addiction, especially youths. As a result, the UKGC has brought about regulations on regulations since the gambling act of 2005. Over a decade now, and the gambling crowd mostly agree that these rules do not favor punters, but the big companies and government itself. Some say the rules are opportunities to monopolize gambling and turn it into a political tool. These and more beg the question of what to expect for years to come in the gambling industry.
What do the Regulations mean For British Punters?
After the gambling act of 2005 that mostly clamped down on the gambling industry, there have been more regulations. It would be best if you recollected that there were commissions laid for gambling companies in the gambling act, not in the UK that wanted players from the UK. It mostly limited betting shops and gambling sites from being accessed by UK players. There was also a clampdown of advertising and publicity with gambling that made betting shops even in the UK go out of business. These were all measures to restrict gambling activities in the country.
In recent times, the UK gambling commission (UKGC) wanted to impose a betting limit of £2,000 on every betting shop and gambling site. This didn’t phase most people as there are still some ways around Gamstop self-exclusion with help of which British players can find many reputable online casinos and spin as much as they can. But again, more restrictions from the UKGC, and this time, it was a proposal to limit the monthly loss of players to £100. Although the proposal is still under review, it’ll most likely be enforced with the kind of power the UKGC holds over the gambling industry.
These many rules and regulations from the government give UK players less freedom to enjoy gambling. Even during a pandemic where jobs were lost and people seek gambling to make money and take their minds off things, the restrictions will cut all that short. Criticism from punters and gambling operators is everywhere on the internet, but the UKGC seems not to be budging and will carry on with regulations. This is in the face of the revenue the gambling market alone generates per year. For British punters, it generally means these rules and regulations are a way to restrict gambling freedom or get rid of the gambling industry entirely.
What Do British Punters Need to Expect?
Fifteen years since the legalization of gambling and the enactment of the 2005 gambling act and it seems we should expect more in regulations from the UKGC. Gambling, as it is, has now turned into a political mechanism for both the government and big companies in the gambling market. All over the UK, you’d observe betting shops closing down because of insufficient funds or lack of customers. This is one of the outcomes of restricting betting only to companies in the UK. Players now go out of their way to get reliable gambling sites to satisfy their passion for playing. This monopoly will be more significant if more regulations like we see now continue to be imposed.
Also, there might be an increase in crime rates and illegal doings if gambling is clamped down on. When people see their ways to make money from gambling is being restricted, who knows what other activity they might turn to? Admittedly, gambling can be addictive, and there should be measures to control loss; the UKGC should realize there are better ways to benefit gambling operators, bookmakers, and punters alike. The UK has a rich history of gambling, and it shouldn’t be ruined for selfish interests and political agendas.