Flutter Entertainment, which owns Paddy Power, has expressed a mix of opinions regarding Ireland's recently approved Gambling Regulation Bill. Although the company appreciates the bill’s goal of addressing problem gambling, it has raised worries about some unintended outcomes that might negatively affect both the gambling industry and its consumers.
The legislation is designed to update Ireland's gambling laws, bringing in tougher regulations on self-exclusion and capping online gaming stakes. Additionally, it aims to reduce advertising and incentives to help protect at-risk individuals from gambling-related harm. Flutter acknowledged these initiatives but also pointed out possible dangers.
A representative from the company mentioned that, while Flutter endorses many aspects of the bill, certain restrictions might harm Ireland’s horse racing industry and drive players towards the unregulated black market. This worry arises from the proposed €10 stake limit and a €3,000 cap on winnings, which the company believes could push players toward unlicensed operators that don't have to follow these guidelines.
Limits on advertising and promotions also alarm licensed businesses. Flutter warned that strict rules could unintentionally aid illegal gambling operations, similar to what has been observed in Germany, where unregulated markets take a large share of gambling activities due to stringent regulations.
The approval of the bill will result in the establishment of the Gambling Regulatory Authority of Ireland (GRAI), which is set to create a modern system for licensing and enforcement. GRAI will have new responsibilities, including overseeing a National Gambling Exclusion Register and managing a Social Impact Fund to help support awareness and treatment initiatives.
Flutter is dedicated to collaborating with the new regulator to facilitate the effective implementation of these changes while championing the sustainability of the industry. The company is focused on finding a middle ground between protecting public health and ensuring a regulated and responsible gambling atmosphere.
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