Will The Long Awaited Gambling Review Go Ahead?
Keen gamblers and those involved in the industry will have been following the long-awaited gambling review and waiting to see what the white paper will say when it is eventually published by the government. As always with news of this kind there have been plenty of rumours of what to expect when it is released, with many people in agreement with what the papers are likely to say- but with a change in government, will it actually go ahead?
What Did We Expect to See
Even though the release of the white paper had been delayed several times, many were confident that it would still go ahead. Several MPs were actively behind the gambling reform taking place & many assumed that the delays were down to the government just being keen to get things right. There were several changes due to take place including a change in sponsorship and advertising rules for betting companies at sporting events; although there were already discussions happening surrounding loopholes and ways to successfully navigate the changes.
It is thought that online gambling was due a shake up too, with things like welcome bonuses and VIP areas being highly restricted or banned altogether. There hasn’t been a big reform of gambling rules by the UK Gambling Commission for some years, so many involved in the industry welcomed a look at things and changes where needed. Most changes rumoured to be taking place surrounded the safety of gamblers and ensured that the industry was doing everything it could to promote gambling responsibly. However, many people had assumed that the UK Gambling Act review would change the way anyone using fast withdrawal casinos gambles with changes to what free bonuses people could earn; so the industry has been keen for any official announcements so they could prepare for any changes they needed to make. That said, it is now thought that the gambling reform could be scrapped under Liz Truss’ leadership.
The Gambling Act Review
The Gambling Act Review has been in the pipeline since 2020; although it was initially mentioned as part of the Conservative party manifesto back in 2019. Various things led to its delay, but that hasn’t stopped people from following the news and having a keenness for wanting to know what changes will need to be made once the white paper is released. Chris Philp had been leading the review under the leadership of Boris Johnson and in July when he resigned said that the document was complete and with Number 10 for final approval. Of course, his resignation and then the resignation of Prime Minister Boris Johnson has once again slowed down the process.
What’s Liz Truss Saying?
Without getting too political, it is clear to most that Liz Truss is keen to make her mark and therefore hasn’t been afraid to make changes or announcements that may upset some. Over recent weeks she has discussed various bills and reforms, with hints towards the fact that they would be ended. Discussions have been around the government’s obesity strategy, the cap on banker’s bonuses, the animal welfare bill, the online harms bill and of course, the long-awaited gambling reform. She’s already scrapped some bills including the energy bill, which had been in place to reform some of Britain’s domestic energy supplies but this has been scrapped in favour of other changes. With Liz Truss clearly not afraid to backtrack on various bills and reforms, it is thought that the gambling reform could well be on the chopping block next.
What Do The Experts Say?
You might assume that changes around sponsorship and free betting promotions would be unwelcome by the industry and that most would be happy if the reform doesn’t go ahead. However, there are many experts that feel at this late stage in the game the reform should go ahead – after all, we’ve been waiting for it for a number of years!
Regulus Partners analyst and partner, Dan Waugh recently talked about the reform and how abandoning it at this stage could be worse for the industry than going ahead with the changes most were expecting anyway.
“It is a question of whether the process of review itself is a distraction, or simply that there isn’t sufficient parliamentary time to implement the outcomes,” he said. “Given everything that is going on in the world, one could make a legitimate case for the latter – but we have surely come too far to turn back on publishing the findings and policy implications of the review.”
There are many reasons for people being behind the reform going ahead. However, mostly it is because people know it has been in the making for some time and therefore any changes are likely to be well-researched and well-thought-out. If the reform gets scrapped completely then the UK Gambling Commission could still opt to make changes, but these would be without the public best interest at heart *& that is something much of the industry will be keen to avoid.
The Future of The Gambling
Realistically gambling is a popular pastime in the UK and not something that is likely to go away anytime soon; no matter what changes are put into place. It is worth considering the revenue the industry makes and what funds this brings into the country too; because the Government won’t want to put anything into place that is going to have a dent on this.
We are seeing some ongoing changes within the industry including the introduction of Cryptocurrency within gambling platforms and a change in the way sponsorship works for sporting events. This is likely to be something that is ongoing, as the industry bends and changes to keep up with both legislation and customer demand. What the future holds no one can say for sure but we can be pretty confident that it’s an industry that will continue to thrive, even with any reforms and changes that may be put in place in the future.
