UK gambling industry is about to face inevitable regulatory changes and Peter Hannibal, chief executive of UK industry organization the Gambling Business Group (GBG), has urged the stakeholders to be ready for the same.
“A review of a gambling legislation is now inevitable, whatever the make-up of the next parliament,” Hannibal said. “We should look upon this as an opportunity to re-set the narrative around gambling in the UK, but this will require a different approach from everyone, not least from the industry itself. This is going to happen, and we need to be preparing for it now.”
“A common voice for the low stake sector has never been more relevant and necessary,” he said. “We need to examine ways in which the various low stake gaming verticals can collaborate, at the very least on the big ticket items such as empirical research to help inform the debate.”
All major political parties in the run-up to the general elections which is scheduled to take place on December 12 have promised to touch upon the existing gambling regulatory framework.
While in their manifesto, the Labour party has promised a complete overhaul of the Gambling Act 2005 the Liberal Democrats have promised a series of measures including complete restriction on gambling with credit cards.
The incumbent Conservative government has also addressed the need to make changes to the existing gambling laws. The Conservative party in its election manifesto, released earlier on Sunday promised a “review of the Gambling Act” saying it feels the laws need an upgrade for the digital age.
The party’s manifesto also mentions that the review of the Gambling Act would specifically address credit card misuse and loot boxes.