written and last updated by
Sam Smith at
05 Nov 2019
Journalist, Editorial Department
Members of the British Parliament, after reviewing an interim report on the online gambling sector, have proposed capping the maximum stake on online casino slot machines at £2. Currently, the limit for a single bet stands at £100.
Following the announcement, shares of British online casino William Hill plummeted by 12.3%, while Ladbrokes saw a decline of 10.6%. The least affected was Flutter Entertainment, the parent company of brands like Paddy Power and Betfair, whose stock fell by just 3%.
The commission stated that the absence of stake limits on slot machines exacerbates issues for individuals struggling with gambling addiction. The report also calls for new legislation to regulate the gambling sector, focusing on harm prevention for users.
Some experts warn that tightening regulations in online gambling could drive players towards unlicensed gambling sites. Additionally, certain companies may opt to withdraw from operating under a British license due to the stringent restrictions.
In April 2019, the UK Gambling Commission already imposed a £2 limit on sports betting placed through terminals, citing the need to protect citizens from losing large sums of money in a short period.
