The United Kingdom has one of the largest gambling industries in the world. For years, however, lawmakers in this country have been concerned with the rise in problem gambling. A recent set of reports indicate we’ll see new UK gambling regulations introduced sometime in the near future.
Some of the country’s top officials support this move. It could result in a major change to the UK’s gaming industry as a whole. Today, we’re going to discuss some of the new measures the government is considering.
Gambling Revenue in the UK is Still Fluctuating
For the past few months, most gambling analysts have been focused on the revenue being earned in the United States. All casinos in the US were forced to shut down back in March. The majority of them have since reopened.
The US gambling industry has offered some interesting insight into how casinos can fare under the worst-possible scenario. Certain cities are doing better than others. Most states are seeing a rise in gaming revenue, yet some analysts fear this could change once winter rolls around.
The United Kingdom’s gambling industry has taken a serious hit this year, as well. Revenue from this industry has been fluctuating each month. In July, online gambling earnings fell in the country, while land-based gambling revenue showed slight signs of improvement.
Earlier this year, online gambling was increasing. Reports indicated that 2.7% of previous non-gamblers in the country decided to begin placing bets while in lockdown.
Boris Johnson is Set to Announce New UK Gambling Regulations Soon
As we just mentioned, the UK has been introducing new gambling regulations for the past few years. It’s clearly hurting the country’s gambling operators. Many have recently begun trying to break into the US market.
The gambling industry is under even more fire in recent months. Many feel that not enough regulations are set in place to protect real problem gamblers. It seems the Prime Minister and many of his associates agree, as well.
“I cannot be specific on the scope of the review, but the evidence is not clear about the link between advertising and problem gambling, particularly among young people,” she said.
A group called the Peers for Gambling Reform seem to be spearheading this new regulatory reform. The group’s leader, Lord Foster of Bath, believes introducing intense new UK gambling regulations is long overdue.
“Given that we have a third of a million problem gamblers, including 55,000 children, and one gambling-related suicide every day, action is urgently needed,” Lord Foster said. “Online gambling companies have cashed in on the pandemic, making more profit and putting more lives at risk. He said the group had been set up to ensure “urgent action is taken by the government to reform our wholly outdated regulation.”
Boris Johnson agrees that it’s time to introduce some new regulations. Expect to see these introduced sometime in the next few weeks. We’ll be sure to offer more updates on this situation as they come out.
The US Continues to Draw in UK Gambling Companies
Up until fairly recently, the UK had one of the largest gambling industries in the world. Regulations towards this industry have been significantly less intense here than in other countries. Things have slowly changed here over the past few years.
Back in May of 2018, the US Supreme Court decided to strike down PASPA. This immediately gave every state in the country the ability to legalize sports betting. Today, 24 states have officially approved bills to regulate this popular form of gambling.
The US is proving to be one of the most lucrative countries in the world for gambling operators. Several of the UK’s biggest sports betting companies have recently broken into the US market. That includes William Hill.
This may become even more common over the next couple of months. A new set of UK gambling regulations are being introduced here. This will likely push more UK sports betting companies into the newly-emerging US gambling market.
It’s a difficult time for gambling companies around the world. Not even the top gaming analysts can accurately predict when revenue from the industry will begin returning to normal.
Do you think it’s time for the UK to introduce new regulations? Let us know in the comments section below!
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...
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