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Protecting online gamblers would be a good policy for any party | NIls Pratley

A group of MPs want to restrict vulnerable people’s losses online – a logical step after measures affecting betting shops The social menace of electronic roulette wheels on high streets was addressed when a £2 limit on stakes on fixed-odds betting terminals (FOBTs) came into force in betting shops in April. Now an all-party committee of MPs wants to become properly serious. It has recommended that the same restrictions on stakes should apply in the world of online casino games . For good measure, it would ban betting with credit cards. Such a radical overhaul would represent a huge intervention. Monday’s share price reactions gave the game away. In the more sober era of FOBTs, the operators’ business model require wild excess to continue online. We’re still miles away from a bill being put before parliament, but GVC, the owner of Ladbrokes, fell 10% – roughly a £500m fall in stock market value. William Hill was down 13% and 888.com, which only operates online, lost 14%. Continue reading...

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