\t\t\t\tGambling can be a liability especially for someone who has been addicted to this habit. Unfortunately, a lot of people still use their credit cards in order to gamble. This only means that they really don\u2019t have the money to burn and simply rely on credit for their entertainment.
\nIn a recent review of gambling regulations, it has been suggested that there should be a ban on the use of credit cards on online gambling. Also, it was recommended that gambling firms fund addiction treatment.
\nIt is a fact that the UK has around 430,000 \u201cproblem gamblers\u201d according to reports. Consultation by the Department for Digital, Culture, Media, and Sports (DCMS) has introduced concrete measures in order to treat this so-called \u201chidden addiction\u201d.
\nOther than the ban on credit cards, fixed-odds betting terminals also gained the attention of many lobbyists and campaigners. Also, the government is now ready to slash the current stake of \u00a3100 to \u00a32.<\/p>\n
According to a think tank ResPublica, they have called for a mandatory levy on online gaming firms as well as bookmakers given the lack of support received by gambling problems compared to other forms of addiction. ResPublica has pointed out that the annual spending on problem gambling research, education, and treatment in England is only around \u00a3133 per person, in contrast to \u00a3377 on drug addiction and \u00a3385 on alcohol problems.
\nBy having mandatory levy set at 1% of the total industry\u2019s profits, this would already raise around \u00a3135 million that could help bridge the gap in helping individuals with gambling-related problems.<\/p>\n
How much exactly do gambling companies contribute today? Roughly around 0.1% of their revenues are given to this purpose on a voluntary basis. However, there are many companies that even failed to honor their commitment towards this cause.
\nAccording to GambleAware and Citizens\u2019 Advice, they\u2019ve both called for a mandatory levy in order to improve funding of treatment.
\nLast year, the charity mentioned that it was only able to treat around 8,800 last year. That is only 2% of the total 430,000 people in the UK that has been experiencing gambling-related problems.<\/p>\n
The ban on credit card use is also being looked into closely when it comes to online betting. It was described that credit card use on online betting \u201csignificantly increases the risk gamblers will gamble more than they can afford\u201d.
\nAccording to chief executive Marc Etches, \u201cWith 430,000 problem gamblers and a further 2 million adults at risk of developing a problem, GambleAware is concerned about the impact this hidden addiction has on people\u2019s lives\u201d.
\nHe also mentioned that he supports the reduction of the maximum stake on betting terminals that have been opposed by many bookmakers.
\nHe also added that DCMS should not ignore the frequency of bets that are allowed to be done by the FOBT that allow gamblers to stake \u00a3100 for every 20-second interval.
\nGiven the number of people with a gambling-related problem in the UK, a ban on the use of credit card on online gambling and reduction of allowed stake on FOBT can make a huge impact in the long run. However, how much do companies lose in the process? Is this a good or a bad move?
\n \t\t<\/p>\n","protected":false},"excerpt":{"rendered":"Gambling can be a liability especially for someone who has been addicted to this habit. Unfortunately, a lot of people still use their credit cards in order to gamble. This only means that they really don\u2019t have the money to burn and simply rely on credit for their entertainment. In a recent review of gambling […]","protected":false},"author":9,"featured_media":2577,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[30,31,18],"class_list":["post-2575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","tag-fotb","tag-gambleaware","tag-online-gambling"],"acf":[],"yoast_head":"\n