UK Government Sets £2 Maximum Stake for Under 25s Playing Online Slots
Date: 2024-02-24 Author: Dima Zakharov Categories: GAMING
Government Regulations on Online Slots
The UK government has unveiled new regulations concerning online slots, with significant implications for young adults. Effective from September, individuals aged 18-24 will be restricted to a £2 maximum stake per spin, while those over 25 will have a limit of £5.
Landmark Decision for Online Gambling Regulation
These measures represent the first time maximum stakes have been imposed on online slots in the UK. The government views this announcement as a crucial step in regulating online gambling and protecting vulnerable demographics.
Transition Period and Consultation Results
Operators will have a six-week transition period to comply with the general £5 limit, followed by an additional six weeks to implement necessary technical adjustments. The decision to implement stake limits followed a 10-week consultation period involving various stakeholders.
Understanding the Decision
The government's decision to impose a lower stake limit for younger adults stems from statistical evidence indicating higher problem gambling rates among this demographic. Figures from the NHS highlight an 8.7% problem gambling rate among 18-24-year-olds.
Industry Responses
GambleAware CEO Zoë Osmond has praised the new limits, emphasizing their importance in protecting young people from gambling harm. However, the Betting and Gaming Council (BGC) has cautioned about the potential impact on industry members.
Future Implications
The stake limit is part of a broader set of proposals outlined in the government's Gambling Act white paper. These proposals aim to protect players from harm while considering the industry's economic contributions. The government assures ongoing refinement based on stakeholder feedback.
