BGC Welcomes New UK Online Slot Limits – Yet there are risks!

BGC supports the White Paper changes to the UK Gambling Act limiting online slots player’s maximum bets for under 24s and over 25s. (Photo by Lysander Yuen on Unsplash)

Following our previous news confirming that the UK government just moved to limit how much cash people can put down on online casino slots, BGC Michael Dugher gave it a thumbs up. Yet, he has also said that he is worried too many guardrails may bruise UK online casino operators and leave some players in the dust. As he’s set to take over the reins of the Council, his take on the topic carries some weight.

As it stands, in September 2024, anyone under 25 will have a bet limit of £ 2.00 per spin, while anyone above 25 will have a £ 5.00 per spin limit

Despite the risks, the gambling industry group – the Betting and Gaming Council – has backed the government’s play to set these limits. What risks? The percentage of people who gamble above £ 1.00 per spin is low versus those who bet £ 2.00 or more. In one corner, restricting slots takes the power away from players to set limits by themselves using responsible gambling tools already available at every UK online casino. Operators have to implement these tools on their casino platforms available online in order to gain UKGC licensing. Some players may feel setting limits on them is disrespectful, almost like being treated like children.

Conversely, the UK industry feels that setting these bet limits enhances its image and leads to safer gambling for those who play slots online. We can’t argue with that point of view. This is a push by the UK government to protect young online slot enthusiasts who could get hooked and chase losses by raising their spin bet amount, hoping to catch a win.

From this standpoint, I can certainly see the UK government’s point of view. There is no shortage of players who raise their bets with the theory in mind that if the slot hasn’t been paid so far, it must be ready to pay out a big win soon, so let’s raise the stakes. This is something we here at Casinoplusbonus always try to warn players against. Never chase your losses by raising your bet, and instead, stick to your bankroll management and bet sizing strategy. With slot RTPs at 96% average, you should let the game play its natural course.

For confirmation of the new online slot bet limits, the UK Online Slot Max Bet Limits Confirmed by DDMS news report explains the current situation in the UK online casino industry.

BGC Worried About Operator Revenue and Risk of Black Market Gambling

In the BCC news statement, the organisation worries about gambling companies whose revenues could sink big time – we could be talking hundreds of millions in pounds.

Although the number of players that play slots for stakes over £ 2.00 is much lower than those that play lower stakes, the revenue from those that place higher bets still makes up for a large chunk of change earned by online casinos.

My opinion is that casinos should not worry about losses that cause others to suffer financially. I have to admit, I was against the lowering of spin bet limits because I don’t like this whole authoritarian state dilemma many countries are facing. On the other hand, if lower spin bet amounts reduces the number of people facing financial woes, then I am all for it.

You can read more about the BGC’s opinion via the organisations response to online stake limits.

Catch 22 – Rise in Black Market Gambling

Throttling stakes, especially for the under-25 crowd who bring in good action, will sting operators’ bottom lines. It may also mean that we see more reports of UK online casino players rolling the dice and joining dodgy, unregulated sites. If the new bet limits backfire and cause both casino operators to lose so much money, they can’t operate in the UK anymore and will drop out. Players also head to black market casinos, then the government should have a backup plan. Did I say backup plan? Yes, but I know what you are thinking. This is the UK government. They never have a backup plan. It is more talk than action.

Within all of this, I haven’t even mentioned how affordability checks may also send players to the black market casino scene. Something covered in detail in the Casinoplusbonus news report showing affordability checks already ‘Risks 6-figure Rise in Black Market Gambling‘.