Players in the UK can now only wager a maximum of £5 per spin on their favourite slots.
However, there is more to this. That limit is for players aged 25 and over, with a £2 per spin maximum limit being imposed for 18 to 24-year old’s.
Imposed by the DCMS (Department for Culture, Media and Sport), in a bid to combat and reduce gambling addiction, it also said that taxes for gambling companies operating in the UK would also be increased to provide aid to gambling addiction charities.
Though, this may present a potential problem which could backfire in a massive way. There are many people who gamble in the UK that are in control of their spending, have significant levels of disposable income and are financially comfortable but are drawn to slots because they have been able to wager whatever (within reason) they want per spin.
This has especially been the case for high rollers, who often gamble 10s of thousands of pounds per month.
Nothing has actually been mentioned about whether there will be limits imposed on high-rollers, though if this is the case then it could well end up costing gambling companies thousands per month in revenue.
Could It Lead To Operators Withdrawing?
The UK gambling industry is one of the most lucrative markets in the world, however, this latest restriction could have a significant impact.
Those operators that rely solely on slots as their main product offering could witness a considerable effect and may feel that it is more profitable to focus on other markets that don’t have slot limits, such as the US.
A move such as this could definitely become a serious consideration for operators over the next 12 months, depending on how much they are affected by this latest restriction.
What the government perhaps also haven’t thought about either, is that if it leads to a mass exodus of the UK market, then it will lose billions of pounds in taxable revenue that it generates from gambling companies on a yearly basis.
Essentially, it is ‘playing poker’ with professionals who have made billions in the industry and the UK government with this latest move probably, right now, does not hold all of the cards.
Big brands that are synonymous in the UK market, have already started to gain traction in the increasingly growing and lucrative US market and they could well see this latest move by the government as one step too far and decide to withdraw their services.
Operators could also use this as a tactic to get the government to reconsider its stance on this latest restriction, though, there still would need to be a compromise. It isn’t like gambling companies don’t do anything to help with responsible gambling and addiction, with many of them donating generously to charity each year, as well as having schemes in place such as self-exclusion.
Maybe, just maybe, this will be the straw that breaks the camel’s back.