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Online gamblers should prove they can afford losses, report finds

Social Market Foundation will call for a £100-per-month ‘soft cap’ on online losses Online gamblers should not be able to lose more than £100 a month without proving they can afford it, according to a report that will also call for betting websites that base themselves offshore to face stiffer taxes. Proposals from the Social Market Foundation (SMF) thinktank build on growing clamour for the government to make sweeping changes to how the industry is regulated , following a string of high-profile stories about problem gambling . A £100-per-month “soft cap” on online losses. Tax breaks for firms that move onshore. Limits on how much can be staked online. A regulatory shake-up, including a new ombudsman. A kitemarking system for firms that uphold standards. A clearer sanctions regime for those that don’t. Related: Lockdown 'leads gamblers from sports bets to riskier choices' Continue reading...

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