Gambling Addiction: How it is Handled in the UK
There are 25 states that legalize and regulate online gambling. Most of these states have limited the legislation to sports betting. Only 6 states expanded the law to online poker and casinos. The UK has seen a host of tougher rules implemented in recent years to tackle problem gambling in the industry. Non-GamStop casinos are popular in UK because they offer more freedom than traditional gambling sites.
There are more gambling outlets in the UK. The ban is beneficial for gamblers on a losing streak. For the basketball betting industry the risks are the same.
Non-GamStop casinos and sportsbooks are not subject to UKGC rules. They are usually regulated by a gaming authority in their own jurisdiction. The common destinations are Gibraltar and Malta. Non-UK casino sites are still subjected to a high level of compliance. There is a risk that consumers will use non- UK gambling sites as a loophole to avoid the GamStop rules in the UK. US regulators are also concerned about the risk of shifting business to non UK sites.
Gambling is regulated in the UK. There are advantages and disadvantages for UK consumers using British sites and those not on the GamStop rules. For customers who are more comfortable with their betting habits, they will find the overseas sites offer a lot more freedom.
Gambling Addiction is handled well in the UK. UKGC licensees are mostly listed corporations. Local GBP currency deposits are standard.
Gambling is illegal in the UK. Popular game titles may not be available. Scam sites can exist.
The UKGC has made a big effort to clamp down on the UK gambling industry. Users are choosing non-UK sites. US regulators should avoid implementing rules on in-play basketball matches or bet size limits. They should also consider a free regime for funding methods. Dallas Mavericks have already opened up cryptocurrencies as a funding method for tickets and merchandise. The casino industry has been hit the hardest. It is important to avoid the same fate if they attempt to tackle gambling addiction in the country.
The US betting industry is growing and many states are moving closer to legalizing online sites. The industry could benefit each state by providing additional tax income and also jobs for citizens that have lost income in the gambling pandemic. Regulators should study the UK approach and implement only the necessary rules.