British gambling regulator the UK Gambling Commission (UKGC) has proposed that gaming companies carry out mandatory affordability checks on customers who lose £100 or more per month.
Operators are supposed to make these checks anyway. In practice, they only make such checks on players who lose over £10,000.
Limits will not apply in Northern Ireland where gambling legislation is devolved.
The £100-a-month affordability check is likely to hit gambling companies hard. Flutter Entertainment, the owner of Paddy Power, Skybet and Betfair, which operate in the UK market are likely to suffer if the regulation does come into effect.
As stated by the Irish Times, Flutter chairman Ian Proctor argues that a three-step approach would work better. He stated that the first step should involve appropriate spending limits at registration for customers with financial red flags. The second step would involve monitoring clients through safer gaming controls and finally applying a spending backstop on the “rare occasions” where the other two steps have not picked up something.
According to Matt Zarb-Cousin of Gamban, 5 per cent of British customers account for 60 pre cent of online betting profits.
Zarb-Cousin is of the opinion that online slots machines and casino games are a chief cause of prblem gambling.