UK Slot Machines Max Stake Limit Now Capped at £5
The new £5 stake limit on digital slot machines is now in force in the United Kingdom.
In 2023, online slots generated $3.2 billion in revenue for operators.
LISTEN TO THIS ARTICLE:The measure comes into effect two days after gambling firms started implementing “affordability checks” to monitor customer losses. Both policies were introduced as part of a white paper that scaled back the liberal betting and gaming laws established by Tony Blair’s Labor government in 2005.
The gambling industry has faced intense scrutiny and backlash over practices deemed exploitative, particularly in light of the increase in online gambling via smartphones, which has altered the gaming industry since the original laws were enacted.
The white paper marked a significant shift in the UK’s approach to gambling regulation, as it aims to strike a balance between consumer freedom and protection.
Prior to Sunday, September 1, when the measure came into effect, online slot machines had no stake limits, unlike shop-based fixed-odds betting terminals (FOBT), which were capped at £2 in 2019.
Now, the maximum stake is capped at £5, with an even lower limit of £2 for individuals under 25. This move, according to the previous government that introduced it, will help counter the increased risk of significant harm and life-changing losses.
Digital slots have sparked controversy because of their link to higher problem gambling rates, as revealed in past NHS reports.
In 2023, online slots generated $3.2 billion in revenue for operators, roughly 80% of the £4 billion total online casino earnings in the year.
More Regulation News
Operators to Screen Customers Using Public Data
Under the new affordability checks system introduced on Friday, operators must conduct affordability assessments when customers’ net losses exceed £500 within a month. They will screen customers using publicly available data, including county court judgments and bankruptcies. The Gambling Commission has announced that the threshold will be lowered to £150 from February 28 next year.
In addition to the new limits, the regulator will test stricter checks for losses above £1,000 in 24 hours or £2,000 in 90 days.
RELATED TOPICS: Regulation
Latest News
Responsible Gambling
New Jersey Makes Significant Change to Gambling Self-Exclusion Program
Dec 24, 2024
Most Read
Parlays, Pressure, and Addiction - The Risks of Modern Sports Betting
Dec 20, 2024Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for UK Slot Machines Max Stake Limit Now Capped at £5