Limits set to maximum stakes and payouts for Irish gambling Machines

Published by Daniel on December 5, 2019 IN Industry News

Ireland Maximum Stake Limit NewsThe online gambling industry has grown and changed with its rapid expansion over the past few years.  
  

One of the main focuses the past year has been creating a safer and more reliable gaming space for players.
  

Regulators in many regions are constantly working on new rules and regulations to succeed in creating such an environment.  

Just recently the Irish Government has brought new changes to the Gaming and Lotteries Act.  
 

Changes to legislation 

Slot games are the games played by most online and land based casino players across the globe. And while these games have gained a lot of popularity they’ve also received a lot of criticism.  

One of the many criticisms regarding slot games has been that there are no stake limits. Making it easy for players to lose a lot of cash in a short amount of time playing these games.  

With the recent changes to the Gaming and Lotteries Act the Irish Government has added a new maximum stake limit of €5 ($5.50) to online slots.  

The Minister for Justice, Charlie Flanagan, brought the changes to the cabinet and also required that a €500 payout limit should be added to any electronic gaming or slot machine.  

The most current Irish gambling legislation was set in motion in 1956 and it is time for big change. If all changes are approved there will also be a raise in the age requirement to play online casino games.  

One of the biggest concerns for regulators this year has been the growing numbers of underage gamblers and the problem gamblers. If the new changes are put in place the age requirement for gambling will be raised from 16 years to 18 years. Thus, those under the age of 18 will no longer be permitted to take part in any forms of gambling activities.  
 

A Word from the Department of Justice 

According to the Department of Justice modifying stake and prize amounts is the only current role of the Minister for Justice and Equality with regard to gaming machines. The given proposal was to raise the amounts to a €10 maximum stake limit and €750 payout limit.  

During the Dáil committee stage debate on the modernisation of the stake and prize amounts in July earlier this year, some deputies felt the proposed amounts were a bit excessive. It was after this discussion that the amounts were lowered to a €5 maximum stake limit and €500 payout limit. 

While the maximum stake limits for the Irish gambling machines have been approved there are still a few more changes in the pipeline. The Irish Government is currently working on a number of changes to the Gaming and Lotteries Act. The main focus being on updating the regulations to providing a safe gaming experience and a regulated gambling market.  

The original proposals for the maximum stake limits and payout limits was brought up in March earlier this year, and changes only added now. It might be some time before all final changes have been made to the regulations.  

For now players can be assured that there will be new limits to maximum stakes and payouts on their favourite slots machines.