The UK gambling commission has just announced a £2 max stake limit per spin for online slots for any player under the age of 25, aiming to reduce overspending and potential gambling habits for young players who previously were able to place £5 bets per spin. This new regulation along with others such as banning slots where you can buy the bonus feature reflects growing concerns of young gamblers around high stakes gambling. Here is further analysis of the regulations, implications, impact on the industry and also the counter argument.
1. Understanding the Stake Limit and Its Goals
The new rule caps online slot bets (per spin) at £2 for players under the age of 25, which is reduced from the maximum bet (per spin) of £5 for over 25s. This regulation is aimed to promote safer gambling and reduce the accessibility of higher stakes gambling over short time periods for younger players, the UKGC hopes it will curb excessive losses. However there is a counter argument that the continued restrictions being imposed is ruining player enjoyment and leading them to seek casinos non UK licensed which offer a more relaxed gambling experience away from heavy restrictions, they are also appealing from the availability to claim huge bonuses and ongoing promotions which UKGC regulated casinos cant offer.
2. Why Focus on Under 25s?
Ongoing studies and research has shown younger players are particularly susceptible to risky gambling habits, behaviour and impulse overspending which can easily lead to gambling related problems, this is also a bigger issue with younger people who binge drink and gamble at the same time. The age targeted approach is to stop or at least reduce high pace, high stake gambling at a younger age.
3. Broader Knock On Effects for the Online Gambling Industry
The new £2 per spin cap is likely to impact online casinos in the UK as it could now become unappealing to younger players who are able to gamble responsibly with higher stakes, operators will now need to look how they can work with slot developers to make games just as entertaining with reduced stakes. UK casinos will most likely see revenues hit once again from new regulations, this may lead to reduced sponsorships in sports teams and sporting events or even lead to job losses.
4. Impact on Responsible Gambling
This regulation adds to the existing responsible gambling measures such as safer gambling tools, loss limits and Gamstop programme. However are we at a pivotal point in regulation where they are becoming too controlling and counter active? Studies show that an increasing amount of people are now seeking casinos not on Gamban which offer ways to avoid heavy gambling restrictions by holding alternative gambling licences which do not impose them.
5. Potential for Future Regulatory Changes
This regulation may signal further changes in the online gambling industry, especially if this age based approach proves effective in reducing gambling related harms/habits. Future regulatory updates surely can’t get much more restrictive though as it’s sure to push people away from UKGC licensed casinos.
Final Thoughts
The new £2 stake limit for under 25s marks a significant move in the UK’s approach to gambling regulation, focusing on safeguarding younger players. While it presents financial difficulties for operators it has been implemented with the best intentions to reduce problem gambling in younger people. I personally believe they need to find a good medium in regards to safer gambling as these continuing restrictions are ruining enjoyment for a lot of people who are able to gamble responsibly.
