SBC News Voice of the Sports Betting Industry
Sky Bet CEO, Richard Flint has responded to the Labour Party’s plans for ‘whistle-to-whistle advertising ban’, on gambling operators affirming that the ‘carrot’ of the ability to advertise can be a means to raise standards in the industry.
Labour’s Deputy Leader Tom Watson has outlined that should the party win a general election, it would seek to significantly increase regulations on the UK betting sector, not only banning marketing, but also an obligatory 1% levy on operators gross-gambling-revenues (GGR).
The Sky Bet CEO tweeted in response to Labour’s plans, emphasising there’s: “Lots we agree on including on the need for more regulation of the online gambling industry. We agree on the need for a statutory levy to find research, education and treatment.
“We are relaxed about a ban on credit cards…its a very small proportion of deposits with us…though we think better to have a limit (on number or £) rather than a ban.
“On advertising, we would support more restrictions on content and tone. But better to use the ‘carrot’ of the ability to advertise as a means to raise standards in the industry (as detailed here.”
Looking ahead he continued: “We want to work towards an industry that provides a safe environment for customers to bet in, including tools for controlling spend and self exclusion, but that can use TV advertising to tell customers about it.
“All gambling has risks, particularly for some people, and needs regulation. But worth noting that according to the latest health survey online betting with a bookmaker has a relative low incidence of problem gambling (and we need to reduce this further).”
He also detailed how Sky Bet is continuing to place social responsibility at the forefront of its marketing campaign: “This is our main ad at the moment. And we are showing it not because anyone has told us to, but because we agree with the message and our customers like the sentiment. And many more of them are using our safer gambling tools since we first aired it.”
The Labour Party’s ‘Annual Conference’ is taking part in Liverpool this week, where the party will not only map out its stance on Brexit, but will also unveil its guiding regulatory mandate, something that will be off key interest to UK betting operators.
