Gambling has always been quite interesting and appealing to people who want to feel the excitement and the rush of playing and winning a certain amount of money. Thousands of people around the world enjoy playing Poker, Texas Hold’em and Roulette. However, even though the players are the most important in the equation, we simply can’t forget to mention the people who work behind the scenes to make it possible for players to come and enjoy the game – bookies, dealers, waitresses, and many others.
It is complete machinery and an army of people who do their jobs responsible. However, the government has been always interested in ways of controlling this branch, walking the fine line between approving its existence or banning it altogether. The Fixed-odds betting terminals (FOBTs) has yet introduced stricter regulation policies that will definitely lead to the closure of most of the betting shops and bookmakers in Europe.
The risk of losing jobs has been brought about by the increased rates of problem gamblers in the European market. Most gamblers have lost huge amounts of money together with other addiction habits that eventually give them a problem when it comes to issues like decision making. This has raised concerns among the industry players who are keen on making sure that fare gambling practices are adhered to. It is like a domino effect – one problem leads to another and all eyes are now on the issue and the ways it should be resolved.
Most of the betting shops around the UK are set to close down due to the low betting limits that shall scare away many punters as said TheGuardian especially the high rollers who spend heavily on betting activities. Most betting shops will face a negative effect as most people will opt to spend on other important activities than gambling. This will lead to a great profit loss because let’s face it – we all know that thousands of dollars exchange hands only during one game, let alone the complete income solely from gambling when looked at annually. Loss of profit means loss of money for the staff, which again leads to closing down many casinos and leaving people without their salaries.
Great industry players like Ladbrokes Coral, William Hill, and Betfred are among those who have already announced future plans to reduce the available jobs. This will put risk more than 25% of the employers who solely rely on these gambling industries for their daily bread and this is truly a serious issue. All these people need to make a living and have a decent salary. At the moment, the situation seems desperate and it is simply very hard to deal with it.
Cut of Maximum Odd to £2
After an extensive engagement between the government through the Department of Digital. Culture, Media and Sports and the High Street bookmakers, the government who were represented by its ministers settled on £2 from the maximum of £100 according to BBC.
The cut shall have a negative implication as most gambling firms may not raise the huge profits that shall sustain gambling operations. As a result, most shops shall close down due to losses. Although the government feels the pain, the only way the government shall use to compensate this is by increasing the duty tax applied to online gambling which is turning out to be the new trend in the market.
Possible Influence on Online Gambling
Online gambling has gained significant attention lately because more and more people see the opportunity in online gambling to access the game they love easily. With the use of smartphones, access to online casinos has never been easier. Gamblers can access the online casino they want in a matter of seconds without ever leaving the house. However, the increase in online gambling has also increased the attention of the government towards this area, because every profit increase is the sign to increase the taxes and control the flow of the money.
The move by the government ministers shall definitely have some direct effect on online gambling. These effects shall, however, need to be taken into some keen considerations by the online gambling firms. Most people shall prefer to bet or gamble online as compared to on land gambling where restrictions are imposed day in day out. It may have some good results because of the powerful self-exclusion system. Online gambling is easy and accessible – players can enjoy the comfort of their home while being able to play any game they want.
But, as far as CasinoGap revealed some casinos that are still not on Gamstop, it may cause additional problems for the online gambling niche. Although the government’s wish is to make gambling a leisure activity, there are still more measures that need to be taken into consideration for online firms as a measure to reduce overexploitation. It is still an area that needs to be explored further.
Betting Shops Closing May Lead to 12,000 jobs cut
Most Betting shops that are set to close down shall render more than 12000 people jobless. A good percentage of workers in the gambling industries rely on their jobs for almost anything they might need. This number is truly alarming. It should be taken seriously and some measures should be taken to help these people.
Bookmarkers and great shop owners have been heard announcing the possible changes in the industry that will result in unemployment rates going up across Europe. The best thing would be to react now to make sure that at least some negative effects are reduced. It is necessary to be proactive and redirect the working force to some other areas where they can find a job.
As time goes by, most shops will face a drop in the number of players to attend which will consequently lead to the problem that was previously mentioned – lost jobs for more than 12000 people. On the other hand, TheRugbyPaper says that owners of betting shops spend money to help gambling addicted people. This raises the costs of maintaining such places and makes investors spend or opt for other lucrative ventures that can help them accumulate some profits.
Gambling as a vice needs to be regulated across Europe so as to develop good gambling habits and reduce the rates of crime these forms of games get attached to. These bookmarkers have been specifically identified to largely contribute to the rise of problem gamblers as compared to online gambling. This is because the shops which are flooded in the UK market may allow credit cards and debit cards easily.
The online industry also needs to put in place safer regulations that will safeguard their interest and definitely protect them from overexploitation. Online gambling is on the right path to providing a safe environment for gamblers. There are many measures taken to protect all the information that the players provide online and there are many trusted online casinos that have contributed to the overall popularity of online gambling. This may be the reason why many gamblers turn to online gambling rather than playing in land-based casinos.