, /PRNewswire/ -- After much discussion, a new initiative aimed at implementing further regulation in the gambling industry has been approved by parliament. Multiple stages of new affordability checks are to be introduced for people incurring financial losses to a certain amount from this August. The pilot programme, which is designed to protect players using online casinos or sports betting platforms from getting into financial trouble through gambling, will run for six months starting on 30 August and is designed as a two-stage approach.
The first stage of affordability checks focuses on "invisible" checks on players losing £500 a month through gambling. This amount will drop even lower to £150 from 28 . The second stage involves closer scrutiny of players incurring losses of £1000 in 24 hours or £2000 in 90 days.
After the six-month trial elapses, there will be a brief period of assessment to measure the effectiveness of the pilot scheme. The initiative, which is viewed as the most drastic clampdown on the gambling industry in history, has already incurred the wrath of many operators and investors within the gambling industry, with many already worried not only about the short-term effects, but also the long-term consequences on their daily business and operations. The topic has caused huge debate amongst the public, from top politicians to industry insiders to users of gambling platforms and the debate will not likely dissipate anytime soon.
Regardless of the outcome .