GVC Supports UKGC Problem Gambling Initiative
In a move that will break ranks with fellow industry players, GVC recently announced several proposals that will better help to protect players who suffer from gambling addiction tendencies. The UK’s biggest gambling company will terminate its television advertisements and sponsorship of football teams which are similar to the proposals raised by the Labour Party in 2017.
The UK Gambling Commission (UKGC) has called on gambling operators to do more to address the growing concerns of problem gambling and GVC is stepping up.
GVC head Kenny Alexander called on rivals and peers in the gambling industry to adopt similar measures that will put an end to broadcast commercials promoting betting on sports throughout the day.
He added the even though a great majority of their customers are responsible bettors; it is still necessary to put in place additional safeguards for people who are vulnerable to gambling addiction.
The Isle of Man-based enterprise has also committed that it will set aside one percent of its total revenues towards the education, research, and treatment endeavors beginning 2022. This rate is ten times the current voluntary tax rate of 0.1 percent which has been recently categorized by Tom Watson, deputy leader of the Labour Party as a dismal failure.
Aside from this increased tax levy commitment, GVC will also allow people with gambling addiction issues to freely utilize its GamBan software designed to hinder admission to sports betting sites from the users own smartphones and other devices. This same tool is an improvement over the widely-accessed yet ineffective Gamstop application.
Mr. Alexander stated that all of these new initiatives alongside their present analytics work on behavior patterns underscore their resolve to become the most enjoyable and credible betting operator in the world.
UK Government Criticized For Not Doing Enough
There are rumblings within the industry that other players are not doing enough to address problem gambling concerns. As a result, GambleAware, which is the agency tasked to undertake the collection of the voluntary tax proceeds decided to call for a required tax to be collected instead.
Bill Moyes, the Gambling Commission chairman, has added his voice to this call since he projects that a revised system will see an upsurge of funds to £70 million per year from the current £12 million and which will sustain the funding budgeted for education, research, and treatment initiatives.
However, the UK Gov does not appear to be very eager to back the UKGC’s move to call for a mandatory tax and this has upset both the Labour party and the UKGC as the lack of endorsement does not help with their problem gambling initiatives.
Carolyn is our legislation expert, with a background in law she is able to cover the current state of gambling around the world