Overregulation for iGaming Industry Looming in the UK
It’s been a while since regulations in the gambling industry have hit operators and affiliates this badly. From Australia to the United Kingdom, gambling regulators are cracking down on casinos. Experts now believe that gambling is at risk of overregulation in the UK and other markets. The most obvious targets of overregulation are gambling machines and online casinos.
The United Kingdom Gambling Commission (UKGC) has been extremely active when it comes to violations of their rules and policies. Many online casinos and bookmakers have felt the burn of advertising incorrectly or not noticing problem gambling behaviour. However, the most pressing concern for the UKGC is the high number of underage gamblers in the UK.
Underage Gambling May Cause Overregulation
Underage gambling is a large concern in many countries, such as Australia, New Zealand and the UK. Recently, many regulators have been contesting advertisements in all three for advertising to minors. In a bid to protect minors, the UKGC sent to all licensees urging them to remove ads with characters that children may find appealing on their sites and those of their affiliates.
According to media reports, this has sparked debates about what is appropriate to advertise when it comes to ‘pictorial representations.’ Many operators, regulators and affiliates have since been arguing about what is appropriate with no definite answers. If the UKGC steps in with stricter rules, this could lead to overregulation of the iGaming industry without solving the issue.
Regulations That Should Be Considered
Some experts are already proposing that the UKGC should rather focus on blocking gambling services from minors. This, they speculate, could be more helpful than banning advertisements and overregulating the industry. The solution may have a better effect on preventing underage gambling than removing images from one website or another.
A similar approach in Victoria, Australia has removed gambling ads from public spaces. This move may help the issue, but it could only work for a small time before underage gamblers found other ways to bet. We’re not saying that this is wrong, but the NZ Casinos team believes that other solutions should be found. After all, overregulation won’t solve anything for such a big industry without losing tax revenues for lawmakers.