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BGC criticizes SMF’s monthly deposit limit proposal

By Cecil Cabot - Contributor
1 year ago

The Betting and Gaming Council has criticized the Social Market Foundation’s (SMF) proposal that British punters should be allowed to deposit only £100 per month. According to the BGC, this cap could encourage punters to play in illegal and unlicensed casinos, thus exposing them to higher risk.

The Council said it is important that any review of the Gambling Act is based on evidence, and that it did not believe the proposed “soft cap” particularly fits this criteria. Besides, it said no other sector faced comparable limits.

“We must avoid measures that see safe regulated betting being driven to unregulated, offshore and illegal black market operators online who don’t have the same checks, interventions, and high standards that apply to regulated BGC members. Measures must be proportionate, evidence-led, and fully thought through to not jeopardize the 100,000 jobs the industry supports or the over £3bn in tax revenues it generates for the Exchequer,” says the BGC.

However, the BGC also welcomed other aspects of the report, such as the claim that problem gambling rates have remained stable and a “kitemark” to be displayed by operators that have not breached the Licence Conditions and Codes of Practice (LCCP).