The UK government will shake-up the online casino slots industry by limiting stakes per pin for certain age groups.
This casino slots ‘staking shake-up’ was revealed on 23rd Februry, but won’t come into play until September 2024, pending a secondary legislation – with under 25 year-old slot players to be limited to £2 per spin and over 25’s £5 per spin.
Prior to this ruling there was no legal maximum stake of UK online slots players – but several platforms that include Flutter did implement slot limits at £10 back in September 2021.
The gambling industry as a whole in the UK has been in the spotlight in recent months with the government keen to tighten regulatory controls on the online casino providers in a bid to reduce problem gambling and addiction,
Prior to these new £2 and £5 per spin limits, there had been talk of limits between £2 and up to £15.
White Paper Highlights Online Players Aged 18-24 Most Vulnerable
Back in April a white paper that was published set out that that even reducing the stake to £8.50 would result in a £185m drop in financial revenue for the industry.
With the white paper showcasing that new limits should be advised at the lower end of the age range, with online gambling players between 18-24 more vulnerable.
Labour MP Carolyn Harris and chair of the All-Party Committee on Gambling Related Harm, told the Guardian newspaper – “I am pleased that the government has seen sense and opted for a £2 limit for people under 25,” said Harris. “There is, however, clear evidence that a £2 limit should be in place for everyone to prevent harm. The government has sided with the industry and should rethink.”
Stuart Andrew, Gambling Minister added:
“Although millions of people gamble safely every single day, the evidence shows that there is a significantly higher problem gambling rate for online slot games.”
“We also know that young adults can be more vulnerable when it comes to gambling related harms, which is why we committed to addressing both of these issues in our white paper.”
“The growing popularity of online gambling is clear to see, so this announcement will level the playing field with the land-based sector and is the next step in a host of measures being introduced this year that will protect people from gambling harms.”
During 2023 online casinos (including slots) in the UK were responsible for £4 billion of the industries overall £11 billion revenue.
With the ongoing affordability checks debate going too, there is also a strong chance that further restrictions will come into place for online casino players in the UK.
These include loss thresholds that will be triggered when a player posts a £1,000 net loss over a 24-hour period or £2,000 over 90 days.
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