Brought to book
Betting industry will stop exploiting problem gamblers
Bookmakers have bowed to pressure to stop hosting vulnerable gamblers at major sporting events and will no longer give bonuses to staff who recruit so-called VIP customers.
The clampdown follows a sportsmail investigation which uncovered a series of exploitative practices in the industry.
The Betting and Gaming Council announced yesterday that they would introduce a code to restrict the way firms treat customers who lose massive sums.
Currently punters who gamble away thousands of pounds are showered with hospitality at events such as Premier League matches and major golf tournaments, and are allowed to stake 10 times as much as other customers.
Betting and Gaming Council chair Brigid simmonds said: ‘We are drafting a new code of practice to set the highest standards in protecting loyalty and VIP customers as part of our safer gambling commitments.
‘We will be consulting with operators, the regulator, charities and other stakeholders.’
The new code will form part of the safer Gambling Commitments initiative, launched this month with the endorsement of the Uk’s 10 biggest gambling companies.
The bookies appear to be ready to sign up to much more stringent self-regulation in an attempt to avoid the government legislating to curb their activities.
In addition to pledges to prevent underage gambling and offering support to addicts, the Betting and Gaming Council are planning major restrictions on the targeting of thousands of ‘VIPs’.
The code will feature a range of stringent measures which will include:
■ Compulsory credit checks on punters before they are permitted to place certain bets.
■ a ban on hospitality for customers deemed at risk of gambling problems.
■ New rules preventing betting firms giving staff cash bonuses linked to recruiting VIP customers.
as part of our ongoing investigation into the bookmaking industry, sportsmail disclosed last week how many high street bookies disguise poor-value odds in tempting accumulator bets which rake in gigantic profits.
meanwhile, the bookies’ online operations restrict the bets of the most successful gamblers and often close their accounts.
‘The code will include requirements we have already identified such as comprehensive source-of-wealth checks, continual monitoring of betting activity and regular safer gambling interactions,’ simmonds added.
‘Furthermore, any customer identified as at risk must not be invited to hospitality, must stop receiving all marketing communication and their loyalty or VIP account or status should be closed.
‘No staff bonuses can be linked to profitability of VIP or loyalty customers. We expect the new code to be published in the spring.’
The Betting and Gambling Council is a new body formed earlier this year following the merger of the remote Gambling association and the association of British Bookmakers.
It acts as a mouthpiece for the gambling industry. The new group represents 90 per cent of high street bookies, online companies and casinos, whose chief executives have held positive talks with the BCG and industry watchdog, the Gambling Commission, over introducing the restrictions.
The Gambling Commission have welcomed the new code and will monitor its implementation.