You have to prove that you can take the loss

[fiulpro]

According to the source stated , the online Gamblers needs to prove that they can handle the losses . This decision was taken into account after the government had a lot of news regarding the gambling addiction and problem that was arising especially during the pandemic.

It's a proposal by Social Market Foundation therefore still not implemented.

Other than that , one needs to actually follow some rules if this gets cleared:

A £100-per-month “soft cap” on online losses.
Tax breaks for firms that move onshore.
Limits on how much can be staked online.
A regulatory shake-up, including a new ombudsman.
A kitemarking system for firms that uphold standards.
A clearer sanctions regime for those that don’t.

Therefore even if you loose 100 Euro , you might have to get ready to prove that , the loss was indeed flexible and you can take it . Unfortunately now the Government is looking forward to regulate the online Gambling since , the revenues from the offline casinos have taken a strong loss , online Gambling is now being preferred since it's safer and much needed during the pandemic.

This regulation might be problematic for some  , for sure now the crypto gambling sites will receive a notice and let's see what would be the height of regulation.

https://www.theguardian.com/society/2020/aug/04/online-gamblers-should-prove-they-can-afford-losses-report-finds

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[Genemind]

Since online gambling is preferable during the pandemic the government most likely had put their eye on it because there's no way they can get taxes on land-based casinos.

“It makes no sense that the same ‘obligation’ to reduce harm through limits to stake and speed should not be applied to an online sector which provides the most accessible content of all.”

I'm wondering why the government only had this kind of thought now that online gambling is gaining more demand. They might actually start focusing on regulating online gambling  instead of land-based casinos since they will be getting more taxes on it.

On the other hand, this might both help and put a burden on gamblers since they will have to provide proof that they can afford playing on casinos further if they will exceed £100 losses.

[20kevin20]

While there certainly are some people dangerously addicted to gambling, I honestly think proving you can afford to lose more than £100 is a silly rule. I don't like it at all when the gov gets their hands inside my wallet and decides where each banknote should go.

Like, isn't it more logical to allow everyone to decide how much money to spend on casinos by themselves without having to "prove" anything and just let them go over the board if that's what they're willing to do? Putting a loss limit in place decreases casino revenues as well - and people will find ways to avoid the limit anyway, so it overall looks like a regulation that doesn't make sense to me..

[Ayiranorea]

Already in several countries gambling is regulated. Very few countries follow it in a strict manner, while majority just stay liberal and give importance when something serious as suicide happens. Regulations were a must, but those regulations need to keep both the users and the gambling platform owners on the safer side.

[Poker Player]

This regulation might be problematic for some  , for sure now the crypto gambling sites will receive a notice and let's see what would be the height of regulation.

Do you really think so?

Crypto sites are based in tax havens and operate on the basis of loopholes to say the least. They don't usually hold gambling licenses.

It is more likely that they get a notice for operating without the gambling license than for that regulation. However, if after so many years operating in the dark, they haven't received it, I don't see why they are going to receive it now.

I don't know why this has been overlooked for so many years. Maybe it's a mixture of not understanding and downplaying the importance of crypto casinos, but the moment they realize their importance they will force them to buy licenses or they will block them.

[Tipstar]

That's for UK I guess. There are many registered gambling sites in UK and they might also enforce that to it's users but away from that, the UK government would have no jurisdiction. I think they can't even force their overseas territory as a lot of gambling sites are registered on british overseas territories which are also a tax heaven.

[mersal]

But how can we actually prove it? So every gambler need to provide their saving and assets information to an online gambling site if they want to gamble there?

Such a ridiculous idea it that, and if it has been passed as a law the UK online based gambling sites will be forced to move other countries where regulations are liberal and better for assuring the privacy while betting there.

[leea-1334]

A bit misleading topic because online gambling IS already regulated (and I guess you are talking about in Europe as you put numbers in euros?

So they are now encouraging firms to go onshore, so they are definitely trying to attract all the Costa Rica licenses and all those I guess. I wonder if this also affects sportsbooks?

[Ucy]

If this is about tackling betting addiction, I would suggest that they make certain types of betting games/competition less attractive than they currently are. One of the reasons people get addicted is the "Fun aspect". It's part of what keeps bringing back bettors despite losing and being unprofitable/unproductive.   If they are unable to resist the urge to bet, it's likely due to the fun.
If you must make your betting sites/centers fun, make sure you don't allow bad games, you don't permit gambling, your games are safe, players learn useful things while playing, the games develop the players to become useful members of their societies etc

[bitbunnny]

Interesting proposal, although for UK only, I guess. That might help to prevent addiction however I'm not sure how successful this regulation could be implemented or better to say controlled and monitored. I also think that this might pose another problem for online casinos and many gamblers will not be happy with this solution. But I'm curious to see how and if it's going to work.

[Becky666]

Well, when some good things start getting into good status the government always take their opportunity, what I see is: onland gambling casinos aren't yielding much gain during the pandemic compared as before, and government had just discovered that; the online gambling casinos are potential assets to them(in terms of tax generation).

Regulations of these online gambling casinos will surface soon because the government had interest on it development.

For the prove of be able to take the loss, that's a good move to curb the spread of this virus called gambling addiction. This had off-course ruined many lives and families and should be put oncheck.

[rhomelmabini]

A bit misleading topic because online gambling IS already regulated (and I guess you are talking about in Europe as you put numbers in euros?

I think he just missed to put it on the topic about this ↓↓

The report recommends online gambling should be regulated much more like land-based bets

So they are now encouraging firms to go onshore, so they are definitely trying to attract all the Costa Rica licenses and all those I guess. I wonder if this also affects sportsbooks?

Well, I think it is. It is still a proposal though unless it kept being pushed but I doubt that a soft cap like that is acceptable especially to those who experience problem gambling yet a high stake roller.

[plvbob0070]

The UK government has been really trying to regulate gambling to prevent addiction, especially now that quarantine can also make people be more addicted to gambling. However, with this restriction, gamblers, and operators wouldn't probably agree with this. It would be more complicated for both if they have to prove that they can afford those losses. Also, according to the gaming industry, further restrictions can cause more job losses from the industry and the reduction of tax revenue.

“We disagree with the suggestion of an arbitrary and random low cap on spending and can think of no other area of the economy where the government determines how much an individual can spend,” read a statement from the Betting and Gaming Council (BGC). “Some 30 million people enjoy an occasional bet, whether that’s on the lottery, bingo, or sports and gaming, and the overwhelming majority of them do so perfectly safely.”

Code:

https://www.casino.org/news/uk-gaming-industry-rebuffs-calls-for-gamblers-prove-can-afford-losses/

[AmoreJaz]

Interesting proposal, although for UK only, I guess. That might help to prevent addiction however I'm not sure how successful this regulation could be implemented or better to say controlled and monitored. I also think that this might pose another problem for online casinos and many gamblers will not be happy with this solution. But I'm curious to see how and if it's going to work.

with this regulation, it's either the gambler will follow such protocol or find ways how to go around it. there are so many ways how to break this regulation, however, this initiative is actually for the welfare of the gamblers. of course, online casinos dont like a regulation like this coz as much as possible they want to rekt the money of the gamblers as much as possible.
 as a gambler during this crisis, you should know your priorities and responsibilities so not to incur debt from others. you will have better sleep at night if you dont owe from somebody, right?

[livingfree]

I don't have to prove anything but I can take any losses that I'm aware of gambling with.

There are countries already that have regulated online gambling and some decided to ban and won't operate through it. I think the reason for others to prohibit it so the land-based casinos won't have any competition.

But if they allow so, they might be looking into crypto casinos too.

[shoreno]

i thought the topic is about accepting a loss but its all about gambling regulations .

 i cant literally accept my loss but i can show or i can prove to them that i loss that certain amount  . im only thinking if what if i over bet one time and i loose but i cant really afford to loose that amount i made that day  , how will they know that .  no problem of showing a loss but they are also asking other stuffs and they look harder to fullfill .

[yazher]

That does not really matter at all, no one in this world has some mentality to take the loss unless that someone is fully loaded with money. every loss is hurting us in any way, the only problem here is how a person handle that loss. The countries that still implementing ban on gambling, has already known the negative impact of gambling on their people. one might commit suicide if they lose a big amount of money. Like what happened with this one: https://www.bbc.com/news/world-asia-40128776

[Natalim]

This must have a big impact to the profitability of the casinos, especially the regulated ones where gamblers needs to perform the KYC before they can gamble. However, in crypto space where gambling is anonymous, I think there will be no effect, and besides how can we prove to them if they don't know us since they are offering an anonymous gambling platform.

Me, I should not worry as I am a crypto casino gamblers for years already.

[swogerino]

This must have a big impact to the profitability of the casinos, especially the regulated ones where gamblers needs to perform the KYC before they can gamble. However, in crypto space where gambling is anonymous, I think there will be no effect, and besides how can we prove to them if they don't know us since they are offering an anonymous gambling platform.

Me, I should not worry as I am a crypto casino gamblers for years already.

When we reach certain limits in crypto casinos sometimes they may require KYC in order to let you withdraw the big amount of money you have won.Some of them do not let you withdraw 10.000 Usd in Bitcoin without verification.However this is just between you and the site and the crypto sites most probably different from the Fiat ones do not pass your documents to the government as easily as Fiat casinos do.You,I and every crypto lover are safe for at least 5-7 years to come.

[acroman08]

That does not really matter at all, no one in this world has some mentality to take the loss unless that someone is fully loaded with money. every loss is hurting us in any way, the only problem here is how a person handle that loss. The countries that still implementing ban on gambling, has already known the negative impact of gambling on their people. one might commit suicide if they lose a big amount of money. Like what happened with this one: https://www.bbc.com/news/world-asia-40128776
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mentality and emotion is not the focus here, but financially. the only thing they will check is if you're financially capable of loosing a £100 a month(which I think is very low).

one might commit suicide if they lose a big amount of money.

but this is not a common case. a lot of gamblers gamble even if they are not financially capable of losing x amount of money and implementing what the OP posted will most likely prevent them from losing money that they actually need.