Gambling has had severe effects on many of the well-established companies to date. The highly addictive venture has led to the loss of a huge amount of cash by employers of companies. The loss has resulted in most employers adopting a new safety measure that will assist them to survive in the future business environment.

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Gambling Policy Statement of Gambling Principles The Gambling Act 2005 requires Buckinghamshire Council, as the Licensing Authority, to determine and publish its Statement of Gambling Principles (Policy) at least every three years, to keep it under review, and to make such revisions to it as it considers appropriate. UK Workplace Gambling Policy: Is It Worth To Follow The Trend? Posted on Feb 17, 2020. Gambling has had severe effects on many of the well-established companies to date. The highly addictive venture has led to the loss of a huge amount of cash by employers of companies. 1.1 The Gambling Act 2005 (the “Act”) requires this Licensing Authority to draft, consult on and publish a Statement of Licensing Policy in relation to its responsibilities under the Act. Once published, this Policy Statement, called the Statement of Gambling Policy, will be kept under constant review and, in any case, will be re-published.

Compulsive gambling among many employees has been realized as a severe problem causing many to reduce the general work performance. The most affected punters find themselves run out of time, spend excessively on gambling-related activities and finally use the office gadgets and devices for gambling instead of working. All these must in one way or the other affect the overall performance and productivity.

The Problem of Gambling at Work Gambling at work is quite a major problem for most of the able employers. Great challenges may be experienced by fellow workmates if a section of the employees is engaged in gambling. Chances are that workers who spend most of their time gambling for real money at EU online casinos and betting websites and spend fewer hours at the workplace compared to those who do not.

This ideally tells us that most of the work shall remain unfinished, poor production levels shall be experienced and misappropriation of funds among employees for gambling purposes will be on the rise.

How an Employer can Suffer from the Employee’s Gambling?

Employers are the most affected by the employee’s gambling habits. In one way or the other, they incur a direct and indirect loss from this poor habit at the workplace. Most of the informed employees have decided to implement regulatory policies that will aid in reducing the rampant effect of gambling at workplaces.

Not focused at work

Focus is one of the key elements an employer will require workers to have during work time. When your employees are serious gamblers then they will spend less time working for you. This will result to poor management of work time hence underperforming at work. Lack of focus results in several conflicts at the workplace among them misunderstanding among employees and the employer. This will eventually make the employer spend more as other workers need to be replaced to handle the work. Such extra costs reduce the overall profit margin of the business or net worth of the company. NGC

Absence from work

Absenteeism is easily noted among the employees who gamble during the time of work. This is mainly as a result of poor time management that will start by extending the tea and lunch breaks for the benefit of gambling. Due to the high rates of addiction associated with gambling, the influence is yet to grow to the next level. With time the employees will end up missing the whole day as a result of engaging in gambling activities. This challenge has equally affected the general performance of the company making it unable to meet its predetermined goals.

Abuse work’s position to spend funds on gambling

We have seen the problem of compulsive gambling affect many leaving some jobless whirl others to underperform in their duties. This habit has gone as far as others using funds from work to gamble instead of having their own money for gambling activities. This has resulted in tremendous losses among many businesses as much money is lost in these activities. Although online gambling is a legal venture but limits out to be structured so that the interest of the employer can fully be considered.

Is workplace gambling policy a solution?

Workplace gambling policies have tried to reduce the effect of gambling at the workplace but the act is still widely practiced despite the policies. It is highly recommended for employers to prevent compulsive gambling behavior that may happen at work with such a policy. If future policies need to be put in place then the penalty for failure to abide by the policies ought to be more strict even if possible eliminate the vice at the workplace.

Conclusion

The presence of policies that restrict gambling at the workplace has helped the situation to some level although much efforts need to be done by the industry players to reduce the vice that is seeing businesses lose a lot. To help the employers meet their goals, I think gambling and the use of office devices to gamble should be completely banned so as to control this addictive vice.

As a result of regulation changes, the UK gambling industry is one of the most rapidly growing industries around.

The UK gambling industry is one of the fastest growing industries in the world. As a result of law liberalisation during Tony Blair’s government, the UK has some of the most relaxed laws around gambling in Europe.

This is due, in part, to the creation of the UK Gambling Commission — the governing body that regulates and develops new legislation in the industry. According to reports, the total revenue for the gambling industry in Great Britain was £14.5 billion — with almost a third of it coming from the remote sector (£5.6 billion).

Despite the rise – and success – of the gambling industry, the market has been impacted through a series of new legislations with tighter regulations. Despite this, the industry as a whole has worked hard to bounce back from new restrictions on the marketplace, and continue to deliver a broad range of entertainment experiences for their growing customer base.

A history of marketplace success and change

The boom of the UK gambling industry can be attributed to the Gambling Act 2005 — which came into force on 1 September 2007. The act overhauled previous UK legislation, which dated from 1845, and covered all forms of gambling, from casinos to arcades.

The Gambling Act 2005 had three main objectives: to prevent gambling from being a source of crime or disorder, or an accessory to crime; to ensure gambling was conducted in a fair fashion; to protect children and other vulnerable individuals from being harmed or exploited by gambling. This led to the inception of the UK Gambling Commission, which continues to oversee all forms of gambling, as well as the companies with gambling establishments and platforms, in the UK.

Another important element of the Gambling Act 2005 was that it addressed the online gambling industry. For the first time ever, online casinos and poker as well as sports betting could be advertised on television. And it also opened the doors for the creation of more regional casinos as well as bigger slot machine payouts — a move that received some criticism from the opposing parties.

The legislation remained relatively unchanged until 2014. This was a response to a two-volume document published in 2012 by the Department for Culture, Media and Sport that evaluated – and critiqued – aspects of 2005’s Gambling Act. One of the main criticisms involved a trend for online operators with a British player base to move their operations to places like the Isle of Man and Gibraltar — thereby incurring a business tax rate as low as one percent.

The 2014 Gambling (Licence and Advertising Bill), which came fully into force on 1 December made a shift to how off-shore gambling brands could operate. No longer would they be taxed at point of supply by their operating territory, but instead at the point of consumption — at a flat rate of 15% on gross profits.

The new legislation also included a change in regulation; where previously, online gambling operators were regulated by the territory from which they obtained their license, from 2014 all gambling operators accessing the UK market must obtain their license from the UK Gambling Commission.

A modification of the 2005 Gambling Act came in the form of advertising. Where off-shore gambling operators could once advertise their products in Britain if they held a license from a whitelisted territory, unlicensed operators would now be forbidden from promoting their products.

Changes from 2018 onward

As the market continues to evolve, the UK Gambling Commission has maintained a watchful eye over the industry and made the regulation changes in order to reflect its three principles. This has involved new legislation in areas including casinos (both online and land-based), bingo and sport.

Here, we discuss some of these changes in legislation and how the industry has bounced back in response.

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Casinos and bookmakers

In 2018, news broke of a change to legislation that would see the maximum permitted stake on fixed-odds betting terminals would be cut from £100 to £2. This was to the dismay of high street gaming groups, who believed that the legislation would lead to store closures across the UK.

Many companies have begun offering new games to offset the losses on FOBTs. This includes several roulette-style games that were similar to those FOBTs.

A change to 2005’s point of consumption tax (at 15%) was also revealed. As a way to compensate for some of the losses that it would suffer due to changes in the FOBTs maximum stakes, lawmakers made the decision to increase the tax to 21%.

As well as offsetting some of these losses, the government revealed that the point-of-consumption tax would help provide all online casinos and operators with equal opportunities.

Bingo

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Bingo has always been a popular form of gaming. Enjoyed by millions of people around the world, more than 3.8 million people in the UK play the game in bingo halls every year. Like other games in the gambling industry, bingo has both benefited – and suffered – from changes in legislation over the years.

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The Gambling Act of 2005 did improve bingo’s status as an industry leader. As a result of the UK Gambling Commission – and their regulations of websites – online bingo platforms, including on mobile, have experienced great success. While changes during 2014 did affect offshore bingo companies, the market hasn’t experienced some of the challenges casinos have faced — like the maximum stake reduction on FOTB’s. Best bingo bonuses and other promotions have ensured the industry remains in a strong position; and will continue to grow in the future.

Sports

Sports betting shops first opened their doors in the UK 1961, after approval from the government’s Betting and Gaming Act. One of the main changes in law since have been the new legislation on FOBT’s.

It remains, however, one of the largest sections of the gambling industry; and with the popularity of live sports, one of the most exciting sectors (and experiences) available.

Into the future

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When it comes to gambling, the UK continues to have some of the most liberal laws in the world. With the UK Gambling Commission overseeing – and regulating – the industry, the marketplace will continue to grow.