The group, the Betting and Gaming Council (BGC), analyzed the victory of Keir Starmer’s Labor Party in the UK general election.
It said it had long considered Labor to be a government in waiting and that victory in the election would provide stability to the sector.
Games generate 110,000 jobs in the UK
BGC Chairman Michael Dugher has pledged to work with the new cabinet to help deliver on Labour’s election promise to raise standards for responsible gambling whilst making the UK the world’s leading betting and gaming market.
However, Labor policy is not expected to be very different from that of the former Conservative government and, at least for now, no major changes are expected beyond what was already predicted in last year’s Gambling White Paper.
Dugher said: “On behalf of our members, the 110,000 people whose jobs depend on the regulated betting and gaming sector and the 22.5 million people who enjoy betting every month, we welcome Labour’s victory and their commitment to keep working with the sector.
In difficult-to-access streets, through betting houses, in the leisure and tourism sector, through casinos and bingo halls. In the technology sector, our members are true world champions. This is a sector ready to contribute to growth, employment and investment in the economy.”
Dugher added: “We are investing in virtually every electoral district in the country and look forward to working with all newly elected Members of Parliament. Meaning our members have the much-needed political certainty they need to plan and invest for a future sustainable.
This work is supported by the sector’s own significant efforts to promote world-class standards and protections for the vulnerable. This has transformed the sector in recent years and contrasts with the dangers posed by the unsafe and unregulated market.”
New Gambling Commission requirements
The British Gambling Commission‘s new reporting requirements for the United Kingdom have come into force. As announced in May, the regulator requires all gaming licensees to submit quarterly reports starting July 1st.
Therefore, licensees must submit their returns within 28 days after the end of each quarter. Previous returns, including data up to June 30th, must be submitted by July 28th or August 11th.
The first quarterly reports under the new regime are for the period July 1 to September 30. They must be submitted by October 28th. Meanwhile, the Gambling Commission will begin a pilot program of the proposed enhanced financial risk checks for gaming.
Therefore, a phased approach in the UK will see a £500 loss limit apply from 30 August. A lower limit of £150 will be introduced from 28 February 2025.
