(Alliance News) - GVC Holdings PLC on Thursday said it welcomed the recent report from the House of Lords Gambling Industry Committee and supports the call for a review of the UK's Gambling Act.
The sports-betting and gaming company, registered in the Isle of Man, has released its own national poll with "evidence of the broad support gambling enjoys as a legitimate leisure activity amongst the British public".
The GVG poll surveyed 2,000 Britons in May and found that 80% of regular gamblers saw betting as part of the leisure industry with two thirds of them supporting "an individual's freedom of choice to gamble".
The poll coincided with the Gambling Industry Committee report, which made a number of recommendations. These include reinstatement of triennial reviews of maximum stake and prize limits for offline gambling and, for online gambling, the creation of a system to test new games against harm indicators to determine addictiveness and whether they would appeal to children.
GVC Chief Executive Kenny Alexander said: "This report is a thoughtful and measured contribution to the debate on how to ensure the regulated gambling industry can thrive, provide entertainment and enjoyment for the millions of Britons who like a bet. While there is only a small minority of customers who run into problems, it is important that we put a safety net around them. We fully support the recommendation to bring forward the UK government's review of the Gambling Act and we will play a full and active role in this process."
The company noted that a number of principles within the report are already reflected in its "safer gambling strategy" titled "Changing for the Bettor". GVC has, for example, removed in-ground and perimeter advertising from UK football venues and halted shirt sponsorships.
Shares in GVC were up 2.3% at 765.80 in London in morning trading.
The report also has potential implications for the video game industry, as it made recommendations regarding "loot boxes" - a kind of virtual treasure chest. These boxes contain different virtual items for use in video games and rewards are often randomised, meaning players do not know the contents of the loot box before buying.
Given this, the report recommended that ministers make regulations under the Gambling Act to specify that loot boxes and similar items are games of chance, instead of waiting for the wider Gambling Act review.
By Anna Farley; annafarley@alliancenews.com
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