UK Elections impact on Online Gambling Industry

Published by Daniel on December 2, 2019 IN Industry News

UK Elections Effect on Online GamblingThe UK elections are taking place this month and is important to many for a variety of reasons.  

For the online gambling industry there is plenty riding on the upcoming elections happening this month.

While some turn a blind eye, those in the industry are keeping a close watch on which way the vote will swing.  

The importance of the UK Election 

Over the past year there has been many changes in the gaming industry and with the elections there is fear of even bigger change for the industry. It’s no secret that the gambling regulations and restrictions within the UK have become even stricter in recent years.  

Online Operators licensed in the UK are currently bracing themselves for the possibility of even more restrictions despite the outcome of the general elections.  

The UK Election is set to take place on the 12th of December 2019 and UK Prime Minister Boris Johnson recently laid out his priorities for the country after the Elections. With the release of “The Conservative and Unionist Party Manifesto 2019” it shows that there will be a strong focus on the current 2005 Gambling Act.  

According to the early polls it is indicated that ‘the Tories’ will have significant majority in the House of Commons. They have pledged many things among which the main was to get Brexit done. Apart from that they have made a vow to re-evaluate the 2005 Gambling Act. Which according to the Party Manifesto is becoming more of an analogue law in a digital age.  

Changes for the Gambling Industry 

According to The Conservative and Unionist Party Manifesto 2019 their review of the Gambling Act will focus on tackling important issues. These issues include some of the biggest that have arisen this year such as loot boxes and the misuse of credit cards. There are some parliamentarians that believe loot box mechanics don’t meet the current definition of gambling. But then there is the issue of the UKGC stats showing numbers of kids that claim to have been pushed towards real gambling due to their exposure to loot boxes.  

The UK Gambling Commission has already started organizing a public consultation where it will be discussed whether or not the use of credit cards should be banned from online gambling. A number of UK parliamentarians recently called for the addition of several online gambling restrictions. These included a credit card ban as well as a reduction to the online slot stakes.  

UK Banks have also added new features which will enable customers to restrict their access to a number of harmful products which includes online gambling.  

All parties including the Labour and Liberal Democrats have given their own anti-gambling proposals. The majority are in support of a credit card ban and Labour is determined to do a complete gambling overhaul.  

While these are all currently plans and promises it is very clear that big changes are still to come for the online gambling industry.