Gambling regulation bill worries gambling experts
In Ireland, the gambling black market was all but eliminated 20 years ago, but some are worried that could be about to change. A Gambling Regulation Bill was sent for review by the Seanad, Ireland’s senate, which includes restrictions on proposed gambling legislation that some fear will push people back to betting on the black market. The Irish Times reports that “the legislation includes stake and win limits on some forms of betting, as well as a broad restriction on gambling advertising before the 9pm TV watershed.”
gamblers are turning to the black market due to tougher restrictions
The warnings are not without precedent. Daragh Fitzpatrick, an on-course bookmaker and a member of the board of state body Horse Racing Ireland, pointed to the trends in the UK, where gamblers are turning to the black market due to tougher restrictions. He pointed out that the similarities in the Irish and UK markets mean that one generally follows the trends of the other. Fitzpatrick said: “I’ve seen reports from the UK in the last two weeks that it is rampant there.”
Real numbers drive concerns among experts
Fizpatrick made these claims based on real numbers. Britain’s industry body the Betting and Gaming Council commissioned a study by consultants Frontier Economics, who published figures demonstrating that 1.5 million British people now bet a total of €5.16b (US$5.76b) on the black market each year. The Irish Times reports: “Around £2.7 billion of the total is staked on online sports, including horse racing, as well as casino games and poker.”
Though regulation appears to drive black market engagement, Fitzpatrick is not objecting to regulation itself. He said: “We’re already one of the heaviest regulated industries in the country.”
Indeed, the proposed restrictions would not outlaw gambling but would simply add limits on bets and winnings at blackjack, roulette, and lotteries. The law would further restrict gambling advertising between 5:30am and 9pm, such as on specialist channels like Racing TV, a subscription-only channel that showcases Irish horse racing for viewers over 18.
Sharing Fitzpatrick’s concerns, the Irish racing industry worries the regulations could threaten “the viability of Racing TV’s coverage, a key source of income for racecourses and the sector generally.” In line with these concerns, Fitzpatrick called “for specialist racing channels to be excluded from this provision.”
proponents claim that the Bill would “modernize the Republic’s…betting and gaming laws”
On the other hand, however, are proponents for the legislation, which include bookmakers, HRI, and other interested parties. Proponents claim that the Bill would “modernize the Republic’s antiquated betting and gaming laws” by creating “a new gambling regulatory authority.” They say that the Bill “introduces new licensing rules, strengthens consumer rights, and aims to protect vulnerable people.”