Lockdowns have created a 'perfect storm for people with betting problems'

In COVID-19, the pandemic and subsequent lockdowns have created a "perfect storm of people with betting issues," according to the Senator Alice Mary Higgins Irish Seanad Éireann.

Speaking at a debate in the Senate on the rules of Irish gambling, Senator Higgins discussed the financial progress made in betting and gambling in Ireland over the past year.

“Financially, this has been a good year for the gambling industry. Profit Flutter to which they belong paddy power , Betfair and others, increased by 1.4 billion euros, which is 23% more than in total profits,” said the senator.

“The company that owns Ladbrokes has increased its online operations by 25%. While bookmakers may lose revenue, let's be clear that the gambling industry has seen this year as a bonanza for online access.

“In 2020, when profits have grown so much, we have seen the government exempt bookmakers from paying a fee of 2% on the bookmaker’s €50,000 bet. For context, this staking fee has gone down from 10% in 1999.”

Addressing Minister of State at the Justice Department, Deputy James Brown, Senator Higgins said the decision to appoint a gambling regulator should not be delayed until 2023 due to the "perfect storm" for gambling sufferers created by COVID. -19 pandemic.

In addition, Senator Higgins discussed the lack of online gambling advertising regulation, stating: “The lack of regulation means we get 24/7 ads everywhere, which is a concern.

"We know we can take action to address this problem, as we did when we put restrictions on the advertising and sale of alcohol."

Before answering questions from Senator Higgins and other politicians, MP Brown asked the legislature to detail the Justice Department's plans to "create an independent gambling regulator in Ireland focused on public safety and welfare."

He argued that this new regulator was necessary as Ireland's current regulatory approach is "fragmented" as a result of widespread dissemination among various departments and agencies.

Once established, the country's new regulatory body "will assume all current gambling licensing and regulation responsibilities, as well as new and broader enforcement responsibilities."

Source: VideoPar Parliament Ireland YouTube channel.

The Lockdowns post created "the perfect storm for people with betting issues" first appeared on GamblingTV.com.