Criticism of bookmakers has been high in the wake of a spike in gambling addiction in the UK, and the FOBT saga has done nothing make it go away.
Now, the top 5 firms in the industry have bowed to the pressure and agreed to up their annual voluntary contributions from 0.1% of profits to 1% until 2023.
This increase from Paddy Power Betfair, Ladbrokes Coral, Bet365, William Hill, and SkyBet will raise money to help pay for more staff, research, and treatment to help those in need.
That’s Nice Of Them
Yeah, isn’t it?
Of course, the industry spokespeople are making all the right noises and hailing this as a solid commitment to the fight against addiction.
Peter Jackson (not that Peter Jackson) speaking on behalf of Flutter Entertainment said it showed:
“an unprecedented level of commitment and collaboration by the leading companies in the British betting and gaming sector to address gambling-related harm.”
However, some people believe this move has only occurred because the bookmakers have been forced into a corner, and are acting out of self-preservation rather than out of the goodness of their hearts – I have to admit, the timing of this act of goodwill is stunning.
An unnamed inside source said:
“The industry is on a precipice – if we don’t get ahead of this, we will end up where the alcohol industry was 10 years ago and tobacco 30 years ago. The fear is that we face a ban on touchline advertising or football shirt sponsorship.”
How Bad Is It?
If you were previously unaware of the rise in problem gambling, you might be surprised to hear that an estimated 430,000 people in the UK alone are thought to have a serious gambling addiction. This can lead to debt, depression, loneliness, and even suicide.
To make matters worse, children are involved; 55,000 11-16 year olds are thought to be struggling with the same issue. Those under 18 shouldn’t legally be able to access gambling products, so the fact that thousands could be addicted is a major concern.
To this end, the big 5 have also agreed to increase the safer gambling message within their marketing campaigns, as well as looking at the tone of their advertisements.
Marc Etches is the chief executive of GambleAware, a charity which helps those struggling with gambling issues, said:
“We welcome this initiative by the leading operators as it’s essential there is sufficient funding to provide for treatment and support for both problem gamblers and for those who are ‘at risk’ – particularly the young and vulnerable.”