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Potentially lower winnings
The first effect felt by online slots players is a possible hit to any winnings gained. The mathematics are straight forward here. Should a player stake a lower wager, they stand to win less. The government is attempting to support exactly those players that stake too much, or more precisely, more than they can afford but for the players that can afford more, their potential earnings are set to be hit.
Migration to other non-UK online casinos
Another possible side effect of the new regulation is the movement of players that would normally play on UK online casinos to other online platforms. This could come in the form of online casinos from other countries, who operate under different authorities and licenses or at a greater risk, other illegal market online casinos. Legitimate EU casinos for UK players from different markets are emerging rapidly, such is the growth in popularity of online casino play. Nowadays, it is common to find online casino platforms from Germany, as well as Netherlands and the U.S, even as far as South Africa.
Potential hit to the UK economy
In 2023, the UK Gambling Commission reported a gross gambling yield in the UK of £4 billion. Of that total, £3.2 billion was accrued from online slots. Slots clearly constitute a substantial portion of the yield produced from online gambling in the UK, and the new White Paper could have a knock-on effect on the amount of revenue produced by the UK online casino sector.
On the other hand, lawmakers might be thinking that the new limits imposed might draw more people to play online slots. With a concrete limit in place, players know the maximum they stand to lose, with less risk of falling down a slippery slope and investing funds that cannot be afforded.
A tense wait…
For the main players in the online casino industry, operators, and users themselves, there is a nervous wait to see how the new legislation affects the profit margins. The decision by the UK government and UKGC will never be unanimously welcomed, but regardless, new parameters have been set in the online slots world. For players, they have a new reality to adapt to once September 2024 hits.
