The COVID-19 pandemic was a seismic event in history, which has had lasting repercussions for millions of people in the UK and beyond.
COVID-19 Gambling Ethics
Whilst the UK’s lockdown rules were constantly under scrutiny, with UK government ministers now referring to the restrictions as ‘advice and guidance’ rather than hard and fast law, the knock-on effect of the pandemic is being felt in a range of industries.
One of the key benefactors from a gambling perspective during the weeks and months of lockdown was the UK gambling industry, which benefitted simply, due to the fact that people had increased time on their hands.
Current statistics for 2022 suggest that almost 1 in 2 adults in the UK undertake some sort of gambling vocation annually and whilst in most cases, this is of course a fun and regulated vocation, for some people it can come with associated addiction problems.
Some of the biggest bookmakers in the UK have been given landmark fines for failing to regulate the spending habits of some customers who have struggled with addiction and gambling problems.
Consequently, the UK government in collaboration with the UK Gambling Commission has distributed record-breaking fines to some UK sportsbooks over their failure to protect their customers from their gambling issues.
Part of the agreement all of the UK bookmakers is currently subscribed to has pledged to put the welfare of gamblers first, in an attempt to avoid the growing gambling addiction issue in the UK.
Investigations found that many UK bookmakers had been negligent in their attempts to stop gamblers with existing limits from outspending them and that others had failed to regulate spending during the COVID-19 pandemic.
Personal responsibility always lies with the player when it comes to dealing with a gambling addiction but with the UK gambling business industry developing at an astronomical level, it is essential that good practice is maintained, by all of the biggest bookmakers in Britain.
Off the back of this oversight by many UK sportsbooks, some of the biggest names in British gambling including new online gambling operators are dealing with not only the financial repercussions of being fined but also the drop in domestic trust and user numbers on their platform.
Shares in some bookmakers have dropped to their lowest in over 15 years, bucking the trend of rival companies within the UK sports betting industry and at a time when more regulation is being brought into the British gambling landscape than ever before, it is essential that all of the biggest bookmakers play by the book.
Being able to trust a bookmaker is essential for any level of punter, regardless of their betting aspirations and the COVID-19 pandemic was a trying time for all, not least punters who were looking for some recreational entertainment and the exploitation of some bookmakers towards punters have left a sour taste in the mouth.