lawmakers called for limiting maximum stakes in online betting,
similar to rules for high-speed slot machines where bets are
restricted to 2 pounds, and banning the use of credit cards to
In addition, the report http://www.grh-appg.com/latest-news
called for a more responsible approach to advertising and
restrictions on VIP accounts, which can involve offering more
frequent gamblers bigger rewards.
The recommendations included calling for treatment of gambling
addiction to be offered under the state-run National Health
The Guardian newspaper said
Prime Minister Boris Johnson was thought to be sympathetic to
calls for stricter regulation.
Shares in GVC <GVC.L>, William Hill <WMH.L>, 888 Holdings
<888.L> were trading between 4.7% and 8.7% lower by 1211 GMT.
"For too long, online gambling operators have exploited
vulnerable gamblers to little or no retribution from the
regulator," Conservative lawmaker Iain Duncan Smith said, urging
the Gambling Commission to look into the issue in greater depth.
British betting companies are still reeling from the
government's clamp down on high-speed slot machines, which
critics have called the "crack cocaine" of gambling. The new
rules cut the maximum stake allowed to 2 pounds from 100 pounds.
Bookmaker William Hill plans to close 700 British betting shops
and GVC expects to shut about 900 outlets due to stricter rules
that have forced firms to shift their focus to U.S. sports
betting and online gaming.
The Gambling Related Harm All-Party Parliamentary Group, which
posted the report, said it would publish a full report after
(Reporting by Danilo Masoni and Tanishaa Nadkar; Editing by
Louise Heavens and Edmund Blair)
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