UK government has recently offered bookmaker companies to cut stakes from £100 to £2 in pursuits to minimize loses caused by gambling addiction. With the emerge of smartphones, online betting became even more accessible. Only 1% of adults are using local bookmaker agencies, while more than 18% prefer to do it online.
Various gambling control institutions keep issuing fines and penalties on bookmakers to protect vulnerable customers. For example, the Gambling Commission imposed a £627,000 fine on one of the online bookmakers for sending ads to thousands of customers who asked to keep themselves away from gambling. Another bookie was also handed a huge fine, which in their case was a £1m one.
With smartphones providing immediate access to online betting, the increase of gambling problems from 2015 to 2018 was estimated at around 50%.
The UK government is on its toes right now trying to figure out the solution. Will they find a cure?