GVC Holdings chief executive Kenny Alexander is not happy with the UK’s Gambling Related Harm All-Party Parliamentary Group (GRH APPG) report.
The group of UK parliamentarians called for introducing the maximum stake limit reduction to online casino games as well. GVC Chief said that extending the stake reduction from Fixed Odds Betting Terminals( FOBTs) to online games would give rise to gambling addiction as players would shift to unregulated markets and illegal gambling websites that offer no protection to customers.
“They said that because it’s £2 in slots, it must be £2 in online casino, but that’s like comparing apples and pears,” Alexander said in his keynote speech at Clear Concise Media’s Reputation Matters event.
“It’s completely and utterly ridiculous. We did definitely need the stake limit on FOBTs to come down,” he continued.
“It didn’t need to go all the way down to £2, but it did and so be it. But to compare FOBTs and online casinos is completely false.”
“We – not just GVS but all licensed operators – have controls, techniques, mechanisms for complete visibility of our players that for FOBTs you could never have,” Alexander said.
“You could go and play a FOBT, lose £100, then go down to the shop down the road and play another one and another one. It was very hard to control it, it had to be brought under control and now it has been done.”
“Online, though, we have so much more transparency. We can step in, we can monitor players’ behavior and if it’s becoming problematic then we can step in.”