Ireland is getting closer to implementing its gambling regulation and laws. This will result in a ban on some VIP programs. (Image by Tingey Injury Law Firm on Unsplash)
A report by the Irish Times dug extensively into the new Irish gambling regulatory body and laws, which is widely talked about. According to Irish Times, the implementation of both the laws and regulatory body is closer than ever. The new reforms will see a new regulatory body created while a ban will be placed on VIP programs like free bets and others that induce players.
For over 35 years now, gambling legislation has not been changed in Ireland. However, there have been many ongoing talks about key reforms of Ireland’s gambling laws since the country’s legal arm passed the Interim Gaming and Lotteries Act in December 2020. The talks started when the Betting, Gaming, Lotteries, and Amusements (Amendment Bill) was introduced to the assembly in Mid-September. Part of the proposed legislation recommended the establishment of a new gambling regulator in Situ by early 2022.
The new regulatory body will be conferred the power to revoke, suspend, issue gambling licenses, and issue block payment and non-compliance fines to gambling operators. It will also have the power to freeze players’ accounts.
Gambling Regulations and Laws in Ireland to Establish a Social Impact Fund
One major part of the newly proposed legislation is aimed at protecting players. People suspect that the use of credit cards for online transactions will likely be banned. At the same time, the latest news says that there will be an establishment of a social impact fund as part of a levy that will be introduced on gambling operators. The social impact fund will be paid for and cover addiction treatment for players suffering from gambling problems.
Furthermore, the social impact fund will also finance other social impact measures like awareness on responsible gaming and the establishment of a self-exclusion register which will allow players to employ a broad-scale self-exclusion from live casinos in Ireland gambling. In addition, any promotion like free bets that are perceived to induce or entice gamblers to spend their money will be banned. The new laws are also set to clamp down on gambling advertising, especially on radio, TV, or online, which could appeal to problem gamblers or children.
Regulatory bodies have begun to show support for the new regulations as they agree that they will help fight against gambling harm. They acknowledge that playing at online casinos is fun. Still, there is a need for regulatory bodies to put regulations, guidelines, and laws in place to protect children, players, and the vulnerable. Players are urged to gamble responsibly and only bet with money they can afford to lose, and treat gambling as a hobby.
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