British politicians are thinking about changing the country’s online gambling laws. They want to reduce UK online slots stakes to a maximum of £2 as part of the overhaul.
The all-party group (APPG) has floated drastic changes as part of an effort to lower the rate of “gambling related harm.”
They note that online slots betting limits should be subject to the same standards as fixed-odds betting terminals. The latter feature max betting limits worth £2 ($2.60).
Outrage Over Untouched UK Online Slots Stakes
Iain Duncan Smith, the Senior Conservative MP, notes that it’s “outrageous” that max UK internet slots haven’t been lowered.
The Gambling Act of 2005 provided the last major update to British gambling laws. Many within the industry believe this act is too controlling.
In 2018, politicians reduced the maximum stakes on fixed-odds betting terminals from £100 to £2. Many casinos and software developers fought the changes on grounds that gambling industry jobs would be lost.
Other Proposals by the APPG
Aside from calling on lower UK online slots stakes, the APPG also wants credit cards to be banned as a deposit method. Currently, Visa and Mastercard are the two most-popular ways to fund British online gambling accounts.
The group is also calling for restrictions on high-roller accounts. Internet gaming operators have taken heat for gifting certain VIPs just to encourage more gambling.
Online casinos offering comps to important gamblers is nothing new. However, criminals who’ve earned their money through illicit means after often among the VIPs.
Restrictions Could Push Gamblers Away
Regulated British online casinos aren’t the only game in town. Players can also access offshore gaming sites through VPNs and other means.
Assuming the government reduces UK online slots stakes, then gamblers might be encouraged to play at offshore sites.
The latter scenario would lead to less tax revenue. That said, politicians should take everything into account before lowering online slots betting limits.