The British government have finally introduced white paper on gambling regulations after being delayed four times.
What Is Gambling White Paper?
By definition, ‘white papers are policy documents produced by the Government that set out their proposals for future legislation’.
Rishi Sunak’s government are introducing the long-awaited white paper on gambling which was delayed for a fourth time in July 2022 following Boris Johnson’s collapse in 10 Downing Street.
Two thresholds for checks have been revealed – first, you will be subject to a bankruptcy check if you lose more than £125 in a month.
Additionally, anyone who loses £1,000 in a day – combatting ‘binge gambling’ – or £2,000 across a 90 day period could see a bank probe into their income, titled an ‘enhanced spending check’.
The white paper has noted that customers may need to provide information directly and the Gambling Commission will consult on all proposed issues.
The policy document also details Gambling Commission data which suggests 20 per cent of accounts would be subject to a ‘financial vulnerability’ assessment and around three per cent of accounts subject to an ‘enhanced’ check.
🗣️"I think that is the worst problem."@AngusMcNae and @thebedfordfox discuss the long-awaited gambling review white paper, with the pair highlighting the lack of differentiation between "gaming" and sports betting as a cause for concern 👇 pic.twitter.com/zD19wjHxwV
— Racing TV (@RacingTV) April 27, 2023
What Does Gambling White Paper Mean For Punters?
The reform isn’t expected to be completed until 2024, but a number of surprising changes will enter the playing field such as the review of promotional schemes by bookmakers.
The white paper says the design and targeting of incentives and bonuses such as free bets will be reviewed, to not encourage excessive or harmful gambling.
If a betting company offered a bonus of £10 with a 50x wagering requirement, in order to unlock the bonus, £500 must be staked.
Funds, including winnings can sometimes expire after a time limit which the white paper states as a ‘sense of urgency to gamble’.
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