Gambling in the USA
Betting Stocks Tank in UK, as MPs Tighten Stand Against Online Gambling

British gambling companies suffered a bloody Monday that witnessed collective drop of share prices on the London Stock Exchange. The collapse happened after MPs urged for stronger laws against online casinos.
The All-Party Parliamentary Group for Gambling Related Harm recommended restricting maximum stakes in online betting, to mirror the rules that now apply to high-speed, fixed odds betting terminal (FOBT) slot machines, where bets are now restricted to a maximum stake of £2.
They also called for banning the use of credit cards to gamble online.
Shares in GVC closed the day with a fall of 11%, William Hill fell just over 12%, while 888 Holdings ended trading down nearly 13%.
British betting companies are still reeling from the government’s April 1 clampdown on high-speed slot machines when it slashed FOBT stakes from £100.
Critics have likened such machines to the “crack cocaine” of gambling.
Iain Duncan-Smith MP, the group’s vice chair and author of its latest report told Sky News that alongside the success of the gambling industry, there had been “huge levels of growth” in addition to gambling.
He said: “The recommendations today are very simple, which is to get some regulation back into this industry, and give the Gambling Commission more teeth to intervene.”
-
Asia2 days ago
Jetapult Strengthens AI Expertise: Onboards Industry Leaders, Oz Silahtar and Dr. Arjun Jain
-
Latest News3 days ago
Roobet Promo Code: Redeem “WRD100” Now to Get a Free Money & Cashback
-
Latest News3 days ago
UK Gambling Commission Flags Deepfake-Fueled Money Laundering Threats in Online Gambling Sector
-
Latest News3 days ago
Recently Released Slot Games Worth Checking Out
-
Latest News3 days ago
Regulatory Roadblocks: The Future of Sweepstakes Gaming in the U.S.
-
Africa3 days ago
Gaming Corps Expands African Presence with KingMakers Partnership
-
Latest News3 days ago
ULTIM8 SPORTSBOOK IFRAME: Ultimate Solution for Operators Who Have Seen It All
-
Latest News2 days ago
Affiliate Sites as Gatekeepers: What Role Do We Play in Shaping the Industry?