Last updated on February 24th, 2024 at 09:19 am
The British government set a new cap for online slot machine stakes at £5. Also, the maximum stake for younger customers is at £2. According to a pay per head bookie, it is part of the government’s plan to impose stricter gambling industry regulations.
There are no restrictions on the maximum bets placed on online slots. However, beginning in September, as per plans confirmed on Thursday, online stake limits would be adjusted to align with machines found in brick-and-mortar bookies and casinos.
According to pay per head reviews and news sites, the government estimates that the gambling sector would lose around £170 million of its £10.9 billion in yearly earnings due to the move, presented in a white paper last year along with other gaming ideas.
Online Slot Machine Stakes in Great Britain
After a 10-week consultation, the government explored a maximum stake of up to £15 for those over 25, but activists claimed it did not go far enough. The maximum bet for those over the age of 25 is £5. Gambling company shares also went up following the Guardian’s story. Stuart Andrew, minister for gaming, countered that the government had done the correct thing to safeguard the young and the vulnerable.
The problem gambling severity index (PGSI) or the DSM-IV measure of mental disorders is usually used to determine if someone has a problem with gambling. The PGSI asks questions like whether the gambler has experienced stress, financial or social difficulties because of their habit or if they have bet more money to win it back.
In 2018, the most recent statewide study by the NHS to track problem gambling by product type indicated that 8.5% of online casino players (including slot machines) were classified as problem gamblers according to the PGSI or DSM-IV. This percentage is significantly higher than the results for land-based slot machines (5.1%), online sports betting (3.7%), and other forms of gambling (1.3%), excluding the lottery.
Experts expect reduced profits due to the new stake cap. That could be one of the reasons to start a sportsbook. That way, operators can have another revenue stream.
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