The top five betting brands in the United Kingdom, also known as The Big Five, have come together and agreed to form a new independent gaming committee. This will be responsible for coming up with new plans and courses of action to take regarding the allocation of funds for problem gambling treatment and responsible gambling.
The Conservative Party’s Lord Chadlington will be the chair of the new committee, and he was officially approached by the five betting companies to take the position. Being a safer gambling campaigner, it stands to reason that he would be a prime delegate to chair such. The betting brands that have united to create this organisation are bet365, GVC Holdings, William Hill, Flutter Entertainment and Sky Betting and Gaming.
Funding for problem gambling treatment and responsible gambling is set to increase, according to a promise made by those five brands. Their commitment will ensure that an increase to 1% of the gross gambling yield (GGY) by 2023 takes place.
Lord Chadlington won’t be the only appointment to the committee, with the remaining members expected to be announced next month. Further to that, the publication of recommendations regarding the most appropriate routes to take as far as administering funds and the monitoring of such will be released by the end of 2019.
Chadlington Invites Everyone to Contribute
Members of the committee will be taking on their roles voluntarily, meaning that they will receive no remuneration for participating in such. With the announcement of his involvement as chair, Lord Chadlington spoke of the committee going through consultations to be able to formulate various recommendations. At the same time, governmental views, ideas of regulators and gambling operators and those who have lived through gambling problems will also be taken into consideration.
He also spoke of being pleased at being asked to chair the committee, as the five betting brands who came to him personally with their request are “committed to implementing any reasonable recommendations” that the organisation may suggest.
It’s not the first time that The Big Five have tried to turn around the gambling sector of the UK, though. In fact, they’ve been at it for quite some time now. The voluntary contribution rise by 2023 was brought in by them, meaning that by the end of that year, it will reach over £55 million. To add to that, August 1st brought in the whistle-to-whistle ban on the advertisement of gambling during sporting events.
All of this marks quite the important step forward for the industry, and a spokesperson for The Big Five said that they’re definitely committed towards providing additional funding for problem gambling treatment. He went on to say that the brands believe that the formation of the committee will highlight the best possible ways of doing this, with the implementation of such taking effect later on in the year.