Gambling addiction has caused serious problems for punters, especially those in the European gambling grounds. The rates of compulsive gambling are high as a result of poor practices among players. As a result, the largest gambling firms have come up with a strategy that will help the government in solving this great problem.
Among the steps made include increasing the amount of safer gambling message and review of the advertised content. The firms also initiated an annual gambling charity that shall be responsible for raising £100m. These funds shall help reduce the problem of compulsive gambling and protect the youth and the vulnerable in society.
The government has got a specific role of protecting people and their families from the risk of gambling-related harm while gambling at unregulated bookmakers or betting sites for GamStop punters in the United Kingdom.
UKGC Has Not Got Enough Resources To Cope With Gambling Addiction
Gambling addiction has been rampant and has equally brought more damage to society and the economy as a whole. Though the UKGC is the regulatory body, great challenges have been felt by the commission in its move to regulate gambling activities.
It needs more resources including funds to create enough awareness among gamblers on the dangers of compulsive gambling. Some of the strict measures also require enough cooperation from the other industry stakeholders who the commission works hand in hand with.
Bookmarkers Pledge £100m To Help Problem Gamblers
Europe’s biggest gambling firms have come with an exclusive offer to the government through an initiative to raise £100m to help towards solving the problem of compulsive gambling. The move has seen great industry players like William Hill and Betfair among others increase the voluntary levy on their gambling profits.
All these funds shall be subjected to a comprehensive campaign that is set to reduce the negative effects of gambling is imposing to its players. The pledge is meant to eventually raise £100m per year and that these funds shall be specifically tailored towards the cure of this great menace.
More contributions include making available more funds for research, education, and treatment in an effort to tackle this menace. The move by these bookmakers just comes after the recent changes that sow the maximum stakes reduced from £100 to £2.
Problems in the Gambling Industry
The gambling industry has been facing stiff challenges since it became into practice in the early centuries. Due to the high rates of addiction experienced in the gambling industry, it has had to control the age limit issue which exposes children to harmful vices at a tender age. For the experienced punters, it has ever been a challenge to effectively manage time as most of the players spend a lot of time on machines and in most cases chasing losses.
As if not enough most gamblers tend to overspend on gambling activities making it difficult to execute other financial duties. The high rates of addiction call for collective measures by industry players to make gambling safer and announce software to block gaming that is helpful for compulsive gamblers. The other major problem in the gambling industry is the presence of huge debts attached to gambling-related activities.
This is brought about by a mistake in some of the betting firms that allow players to play on credit. Eventually, the money does not get paid and remains a stumbling block to the growth of this active gambling industry.
Conclusion
The move by great Bookmakers has had some positive results in the fight against unhealthy gambling practices. For the industry to thrive successfully, there shall be a great need to protect the online gambling industry which has eventually turned out to be the best and most flexible compared to the brick and mortar.
