Money Wellness
AI image of  man on his phone surrounded by £1 coins and slots in gold. Gambling debt. Gambling legislation for online slot games
category icondebts
calendar icon23 Feb 2024

New gambling regulation announced for online slot games

The government has announced new regulation for online slot games to counter the increased risk of significant harm and life changing losses they pose.

A £5 stake limit will be introduced from September for anyone over the age of 25 to bring online slot games in line with casinos.

A lower stake level will be implemented for young adults aged 18-24 who will only be able to spend £2 a spin.

The government has set a lower limited for younger adults as this age group has the highest average problem gambling score out of every group in the UK. They also have as the lowest level of disposable income available, with many getting used to managing money for the first time. The government has also recognised that they are still undergoing neurological development, making it harder to recognise risk. And evidence also points to a stronger link between gambling related harm and suicide among young adults.

The new regulation follows a 10-weel consultation period with organisations from the gambling industry, academics, treatment providers and the public - the majority of which agreed with the proposals.

Gambling Minister Stuart Andrew said: “Although millions of people gamble safely every single day, the evidence shows that there is a significantly higher problem gambling rate for online slot games.

“We also know that young adults can be more vulnerable when it comes to gambling relate harms, which is why we committed to addressing both of these issues in our white paper.

“The growing popularity of online gambling is clear to see, so this announcement will level the playing field with the land-based sector and is the next step in a host of measures being introduced this year that will protect people from gambling harms.”

Help for problems with gambling

Are you:

  • Betting more than you can afford to lose?
  • Trying to win back money you’ve lost?
  • Borrowing money or had to sell something to get money to gamble?
  • Not feeling the same buzz you once were and are now gambling more money to get it again?
  • Wondering if you have a gambling problem?
  • Feeling stressed or anxious about gambling?
  • Noticing other people mentioning you might have a problem?
  • Facing financial problems because of gambling?
  • Feeling guilty about gambling?

If you recognise these feelings/traits, there are lots of places you can turn to for support. Here’s some charities and organisation who help with gambling addictions:

Gamblers Anonymous UK

GamCare

Betknowmore UK

Gordon Moody

Gamble Aware

Primary Care Gambling Service

Chapter-One

The NHS also runs specialist gambling treatment clinics in England. You can self-refer to your nearest gambling clinic or ask your GP for information about what services are available in your area.

Proactive things you can do to help you stop gambling

  • Sign up for GamStop which stops you be able to use gambling websites and apps for 6 months, 1 year or 5 years
  • Install Gamban which blocks access to gambling websites and apps on your devices
  • Get your bank to block any money going to gambling websites and apps
  • Change your daily commute or walk if it takes you past casinos or bookies

Help with gambling related debt

If you are missing payments or find yourself in debt because of your gambling, you should seek free debt support as soon as possible. We can help find the debt solution that is right for you.

We can also refer you into one of our partner organisations who can provide you with more structure support to help you deal with your gambling problems.

 

Avatar of Caroline Chell

Caroline Chell

Caroline has worked in financial communications for more than 10 years, writing content on subjects such as pensions, mortgages, loans and credit cards, as well as stockbroking and investment advice.

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