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Infographic: The State of Problem Gambling in the UK

George Miller

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Infographic: The State of Problem Gambling in the UK
Reading Time: 2 minutes

 

Gambling is a pastime transcending millennia. From dominos to cards, enjoyment has increased with the introduction of wagers. Il Ridotto (“The Private Room”) was the first casino introduced in Venice in the 17th century. Horse racing grew in popularity in the 18th and 19th centuries, added a new flavour – sports betting. Gambling is now a multi-billion dollar empire, with an estimated legal market value of $335bn (2009). But more money means more problems. Costly risks have resulted in big losses for consumers. In 2017, The Gambling Commission indicated UK gamblers lost a record £13.8 billion. And that figure has grown year-on-year since 2011.

British government involvement in betting has seen both regulation and deregulation. Sir Winston Churchill created The Racehorse Betting Control Board in 1928 as a deterrent to illegal bookmaking. This became the Horserace Totalisator Board, or the Tote, before being privatised in 2011 and the eventual sale to Betfred. Legislation likeThe Betting and Gaming Act 1960, The Gaming Act 1968, and The Gambling Act 2005 liberalised gambling, allowing for the opening of casinos and bingo establishments, both on and offline. Online sports betting and slots games continue to grow in popularity and have thrived under the relaxed laws.

However, recent controversies around problem gambling have forced the government to act responsibly – an ethos echoed by betting companies in advertisements. The Department for Digital, Culture, Media and Sport has elected to reduce the minimum stake on fixed-odds betting terminals (FOBTs) from £100 to £2. This comes after months of protests from anti-FOBT groups and bookmakers, the latter making more than 50% of their revenue from the machines. This has lead to closure of betting shops, sayLadbrokes, who plan to close up to 29% of their shops over the next 2 years. The Association of British Bookmakers told The Guardian, “We expect over 4,000 shops to close and 21,000 colleagues to lose their jobs.”

Problem Gambling in the UK

 

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Asia

Oriental Group Gets Approval for Developing Gaming Hubs to House POGOs

Niji Narayan

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Oriental Group Gets Approval for Developing Gaming Hubs to House POGOs
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Oriental Group, the Asian-based online gaming giant, has got approval form PAGCOR, the gaming regulator in Philippines, to develop two hubs for the purpose of hosting accredited Philippine Offshore Gaming Operators (POGOs). The hubs will be based in Clark and Cavite.

The hubs will not only house the offices of accredited POGOs but also workers’ residences and relevant government agencies. The idea is to make it easier for PAGCOR to regulate the industry.

“We are making business more comfortable and easier for the operators by now licensing POGO hubs. Since it’s easier for us to regulate when they are in hubs, then there are some special privileges there like five-year licenses,” PAGCOR chair Andrea Domingo said.

According to Kevin Wong, General Manager of Oriental Game, the Clark hub which is covering an area of around 10 hectares is already operational and will be able to accommodate 5000 workers once at full capacity. The Cavite hub, which will cost Oriental Game Php8 billion (US$156 million) to build, will cover 20 hectares and house 20,000 workers.

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Asia

Sands China Launches Special Financing Support Programme for Local SMEs

Niji Narayan

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Sands China Launches Special Financing Support Programme for Local SMEs
Photo Source: sandschina.com
Reading Time: 1 minute

 

Sands China, the integrated resort developer and operator in Macau, has launched a special financing programme for its local SME suppliers, in cooperation with six local banks.

The new financing programme is part of Sands China’s F.I.T. initiative which offers Financial Support, Invitational Matching and Training and Development to local SME suppliers.

Through the Sands China SME Financial Support Programme, six local banks are offering special loans and credit to local SMEs who have contracts or purchase orders with Sands China. The goal is to support the development of local SMEs through faster, easier and more favourable bank financing loan products.

“Sands China is very pleased to be the first integrated resort operator in Macao to present this new financing program for our local SME suppliers. It is important for our company’s growth to go hand-in-hand with the growth of local businesses, and this latest initiative is part of Sands China’s ongoing and long-term commitment to supporting local SME suppliers. We want our presence in the marketplace to provide opportunities for smaller companies in Macao to benefit from the business opportunities that are created as a result,” Dr. Wilfred Wong, president of Sands China Ltd said.

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Gambling in the USA

Oklahoma Tribal Leaders Approve a Resolution against Governor’s Gambling Plan

Niji Narayan

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Oklahoma Tribal Leaders Approve a Resolution against Governor’s Gambling Plan
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The leaders of Oklahoma-based Cherokee, Chickasaw, Choctaw, Muscogee (Creek) and Seminole nations have approved a resolution denouncing the new Republican governor’s plan to force negotiations for a bigger slice of revenue from Oklahoma’s tribal casinos.

The Inter-Tribal Council of the five civilised tribes approved the resolution during a meeting in Tulsa.

Last week, Gov. Kevin Stitt said that the existing compacts should be reevaluated now that the gambling industry has matured in Oklahoma.

Tribal leaders and the governor disagree over what triggers a 15-year renewal of the compacts.

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