Sunak keeps an eye on Gambling Act review
Rishi Sunak, who is the Chancellor of the Exchequer, has highlighted his distress and unease with the DCMS surrounding the imposing of ‘enhanced affordability checks’ on bookmakers.
This event has been reported by the Racing Post, and the local racing delegates forming part of Sunak’s Richmond North Yorkshire electorate addressed the Chancellor, expressing that they are against the UKGC reviewing a consultation proposal.
This comes with the British government’s proceeding review of the 2005 Gambling Act. In order to look into and analyse possible procedures on customer protection for remote gambling, a discussion has been issued and carried out.
These steps will most likely include the introduction of a “safety threshold” which comes with a limit of £100 loss on customers before supplying proof that they are able to afford to wager. This move is expected to affect the revenue of the sport by around £60 million, as stated by the racing leadership.
Reportedly, Sunak has spoken to DCMS Secretary Oliver Dowden directly, in a conversation that revolved around these exhaustive actions. Sunak is said to supposedly taking part in current talks with various business leaders within the country, and is preparing to provide the UK’s Spring Budget on the 3rd of March, where he will be displaying new support plans for businesses that have suffered during the COVID-19 pandemic.
In the meantime, during the course of an ‘introductory meeting’ as the British Horseracing Authority’s newly-appointed CEO, Julie Harrington brought up the problem with Neil McArthur, UKGC boss. Harrington stated that the racing sector simply couldn’t manage to overcome any issues regarding revenue, since the sport has had a rough year thanks to COVID-19 restrictions, which forced the sector to assist with a £250 million revenue crash caused by the closing of racing tracks and courses.
The Chief Executive of the Betting and Gaming Council, Michael Dugher, expressed his favour of serious measures that were backed by proof.
He said in a tweet:
I support enhanced affordability checks on betting, but these should be targeted towards at-risk groups – not the millions of people who bet perfectly safely. If checks are unnecessarily onerous, punters will go to the unsafe, unregulated black market.