Recent news making the headlines is about how five of the UK’s leading and biggest sports betting and online casino operators have affirmed and agreed to increase the funding and size of their donation to the local industries who have in charge of tackling the drastic rise of gambling problem.
Note that, this fund is provided to fortify the effectiveness of gambling treatment and safer gambling. Five of the top sports betting includes Flutter Entertainment (formerly known as Power Betfair), William Hill, bet365, Ladbrokes Coral owner GVC Holdings and The Stars Group-owned Sky Betting & Gaming.
They all decided to increase their voluntary contributions which used to be 0.1% to 1% of their gross gaming yield in not more than five years i.e. not exceeding 2024. This was reported according to the British Broadcasting Corporation (BBC).
Following this massive increase in donation, the voluntary levy is expected to raise up to £100 million each year. This will provide treatment and assistance for those who are in one way or the other suffering from any gambling related harm. This is recorded as a massive win for the local industries as the money raised fell short of the initial #10 million target.
Although, In the month of April, a gambling charity which is known as GambleAware solicited for UK gambling operators to render assistance by providing more financial support for its problem gambling treatment efforts after industry funding didn’t meet up to its initial 2018-2019 target. The amount the industry was able to raise was just £9.6 million, this is £400,000 thousand short of the targeted £10 million.
More to come
That isn’t all, the chief executives of each of the companies mentioned above will start and commission a consultation process with relevant stakeholder in order to develop a long-term plan which will protect the young and vulnerable from getting affected from the harms and dangers associated with gambling.
The consultation process will later be expanded to those who are having gambling problems. The amount associated to setting up this process will be announced by the end of the year.
A spokesman for all five gambling operators said: “We have engaged constructively with the DCMS Secretary of State on safer gambling measures including an increase in voluntary funding for research, education and treatment. We will continue to engage on the issues and will consult with all relevant stakeholders on this to understand how best to achieve our shared aim of minimising the impact of gambling-related harm” he add by saying: “ In addition, we have been working with a broader number of operators on measures to minimise gambling related harm and will comment on them in due course.”
According to the Secretary of state at the DCMS he affirmed the reports by meeting with aforementioned gambling operators to expatiate more on the plans as how to address and control the issues and problems associated with Gambling, he said: “I want the gambling industry to step up on social responsibility and keep their players safe, including through making more funding available for research, education and treatment to tackle problem gambling. I have met the major players in the sector recently and my department is in discussions with them on a strong package to increase their financial contribution, as well as make meaningful commitments on other measures to help ensure people gamble safely.”