Irish Legislators Approve Groundbreaking Gambling Regulations Following Nearly Two Decades of Debates
The Irish Gambling Regulation Bill, worth up to €8bn ($8.7bn) annually, has been passed by lawmakers, marking a significant step towards regulating a previously unregulated sector. This long-awaited bill, introduced by Minister of State James Browne in 2022, is a major overhaul of Ireland's gambling legislation, which has remained unchanged since 1956.
The new legislation aims to introduce significant protections for the public, with the bill now awaiting President Michael D. Higgins' consideration and official signing into law. Once enacted, the bill will create the Gambling Regulatory Authority of Ireland (GRAI) to license operators and oversee compliance.
The GRAI will have the power to suggest additional changes to legislation and issue fines of up to €20m ($21.7m) for non-compliance. One of the key changes includes a ban on incentives like free bets, hospitality, and VIP treatment, as well as restrictions on advertising.
Advertising restrictions will extend to broadcast media, prohibiting gambling ads between 5:30am and 9pm, and also banning ads on social media. In response, Sky Sports Racing plans to have a separate feed without gambling ads, while some major broadcasters, such as Racing TV, may shut down their Irish operations due to the bill's implications.
Horse racing in Ireland heavily relies on gambling-related advertising and a betting levy. The new legislation may impact this sector, as operators can no longer sponsor sports teams or organizations. However, a new social impact fund will allocate resources from gambling companies to finance addiction-related education and treatment programs.
The bill also implements a €10 ($10.86) max stake and payout cap of €3,000 ($3,258) on games like blackjack, roulette, and slots. It's unclear if poker falls under this bracket, causing concerns among some, including legendary Irish poker player Fintan Gavin.
As the bill moves towards becoming law, the lack of clarity in certain areas, such as payout limits for poker tournaments, remains a concern for industry professionals. Despite these uncertainties, the passing of the Irish Gambling Regulation Bill marks a milestone in Ireland's efforts to regulate and protect its citizens from potential harms associated with gambling.
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