Lord Chadlington, a Conservative Peer in the House of Lords, has recommended that tighter regulation of the betting industry in the UK is required, as the current legislation covering the industry is ‘not fit for purpose’.
Lord Chadlington is responsible for overseeing the funds provided by the voluntary levy the five leading gambling firms in the UK contribute to, with the monies raised being used for initiatives to combat gambling harm.
The Financial Times reports that Lord Chadlington is of the view that the 2005 Gambling Act in its present form does not take into account the rise and growth in online gambling over the past fourteen years, since its introduction.
With the Conservative Peer stating that: “There was also a conspicuous lack of research into the harm caused by the sector, particularly on how online gaming might push children to become gamblers later in life.”
“The gambling act is absolutely certainly not fit for purpose in 2020 because when it was drawn up in 2005 we had about 18 per cent internet penetration in the country and now we are at over 90 per cent, so there is very little in the act that deals with online.”
Recently Lord Chadlington chaired a committee into deciding how the monies raised by the levy should be managed. The committee also included Liz Ritchie, who setup the charity Gambling with Lives, after her son Jack, took his own life after battling a gambling addiction for several years.
The outcome of the committee was that a charity called Action Against Gambling Harm is to be established, with Lord Chadlington insistent that the charity would be independent of the gambling industry and free from lobbying from gambling companies.