When was the last time there was political stability in the UK? David Cameron had a good stint at Downing Street, clocking in an impressive six years, with Tony Blair serving 10 before him. But since Brexit, and the pandemic, everything’s been a bit of a mess. While Boris Johnson was divisive in his approval ratings, there’s no denying an underlying longing for him to return to office among much of the public. While the Conservative Party still leads the UK since his exit, it has continued to cause turmoil. It took just 50 days for Liz Truss to leave the office of PM and Rishi Sunak’s “honeymoon period has become a shipwreck” according to an opinion piece in The Guardian.
It’s all gone Pete Tong.
Not only is all this political uncertainly bad for business for the party, the general public, and the world’s sphere, but it also impacts industries, with a revolving door of cabinet ministers with each go-round. For one industry in particular, gambling, this is a particularly nail-biting experience. There have been no less than eight gambling ministers since 2018, with Paul Scully recently sworn into office as Parliamentary Under-Secretary of State for Tech and the Digital Economy, of which
Gambling and UK regulation
The UK is the leading country worldwide when it comes to gambling regulation. The industry is a thriving source of both entertainment and taxation for the country at large. This atmosphere of regulation is due to a long history of legalized gambling in the UK. Other countries are fairly strict with gambling or flat out ban most types of gambling, although this has been changing over the past decade or so.
Because of the UK’s affinity for gambling and healthy regulation of the industry, it has allowed many gambling providers to flourish, such as Bet365, Paddy Power, and Ladbrokes, who are now pervasive household names.
However, as the industry is so mature, so are its regulations, which seem to be rolled out as fast as betting houses try to innovate. On the one hand, the government has the mandate to help ensure the public isn’t hurt by problem gambling and have the businesses fairly taxed, and on the other hand, the gaming houses are there to generate income for shareholders and entertain the public.
With each new gambling minister comes the possibility of new legislation and moves on the table. Will they continue in the same direction as their predecessor or take a new one? Will they remove proposals or speed up others? Are they more or less willing to work alongside the gambling houses as equals or as opposition? It’s enough to make the head spin.
What’s on the cards for the new gambling minister?
One of the most crucial things about Paul stepping into his role for those in gambling is that the long-awaited Gambling Review White Paper will no doubt be pushed back again. This comes mere months after the proposals were put off for the fourth time. These delays are wearing thin for proponents from both sides of the gambling reform fence. With Paul’s freshness in the role, along with other industries to look after in his new role, it will take some time to get up to speed with what’s required.
The issues tackled in the White Paper are of limiting betting to ensure that customers are not spending beyond their means rapidly, lowering stakes in play as a default plus capping higher bets, removal of VIP schemes, and reassessment of bonuses awarded based on spending or losses.
Exploring No Wagering Requirements
Nevertheless, one of the main issues that has yet to be discussed and tackled is wagering requirements. This is a crucial debate since regulators and legislators alike acknowledge that they’re important to players. Their main concern lies in the fact that customers have highlighted the near-impossible terms and conditions imposed by operators.
Said requirements are generally attached to a promotion and outline how players first need to bet a certain number of times to be able to cash out on their winnings. This, in turn, has ceased the attention of the Gambling Commission, since such conditions tend to promote excessive play. Of course, a possible solution could be the availability of no wager bonuses, but even these come with their own set of restrictions.
Roll with the punches?
Gambling industry companies are used to rolling with the punches in the face of constantly shifting reforms. It has made them more agile in their operations and also has made them fairly aggressive when it comes to lobbying. It’s fair play to them, especially when they are made to make changes so swiftly and, sometimes, with little warning.
