Great Britain wants to limit the maximum bet on slot machines in online casinos
Representatives of the British Parliament, after studying an interim report on online gambling, proposed limiting the amount the maximum bet on slot machines in online casinos. Legislators want the maximum value of a spin in video slots to be £2. Now the limit for one bet is 100 pounds.
After the statement of parliamentarians, the value of the shares of the Britishonline casino William Hill fell 12.3% and Landbrokes fell 10.6%. Flutty Entertainment (owner of the Paddy Power and Betfair brands) was the least affected, dropping just 3% in value.
The Commission said the lack of video slot wagering limits exacerbates the problems of gambling addicts. The report also proposes new laws to regulate gambling that should focus on preventing harm to users.
Some experts believe that tightening rules in online gambling will encourage players to use unlicensed gambling sites. In addition, some companies may refuse to work under a UK license due to too severe restrictions.
In April 2019, the UK Gambling Commission already introduced a limit of £2 for sports betting placed through terminals . The department explained the decision by saying that they want to protect citizens from losing large amounts of money in a short time.