In the past, gambling was illegal. However, times have changed, and just like any other social activity, gambling has been legalized to the point of traders being allowed to acquire trading licenses. Unlike in the past when the government would prosecute gamblers, the same government is now in the front lead of gambling controllers. A good example of a state that entirely depends on the government when it comes to gambling is the United Kingdom. In this state, the Gambling Commission is in charge of all gambling activities including the revenues. From sports gambling to casinos, the government controls the rules of the game.
Background
The success story of gambling in the United Kingdom is vastly diminishing on the side of gamblers. The industry and traders are however better placed because unlike the players who keep amassing losses, and the government keeps smiling to the bank year in year out. A story is told of the gambler who enjoyed gambling to the point of playing in the board room or casino. Kerry Packer made several news headlines when he hit the jackpot by winning billions through gambling. He was the world’s richest man in the 1970′ s. Kerry made a name for himself in the industry of gambling as the gambler who made billions in one day.
Loss
According to reports issued by the Gambling Commission, in 2016, gamblers lost approximately £13.8 billion even with the presence of betting machines that assisted the players in predicting the eventuality of loss or gain during the games. The report according to the commission of gambling jetted in a few weeks into the gambling review by the government. Following the government review, most gambling machines that allowed gamblers to win approximately £ 100 in every second contributed to the growth of resenting gamblers who demand strict regulations in the industry. The reports further indicate that Democrats, as well as labor, are working towards reducing the maximum bet in the event that they win the elections. With the loss of gambling machines, it is approximated that the gamblers are on the verge of losing £ 5 million every day.
Continuous Losses
According to the commission’s review, most gamblers lost through the gambling machines. It was also noted that the losses increased with the growth of machine use. In fact, in November 2016, reports indicated that there was a £ 1.82 billion growth in the loss by the end of September 2016. Since 2009, the Fixed Odds Betting Terminal has contributed to the loss of gambling money by 73%. Even with the increase in the number of machines by up to 9%, it is sad to note that gamblers are gradually increasing their stakes. According to Carolyn Harris of Swansea East, the number of Fixed Odds Betting Terminal should be reduced because of the high number of losses registered. With each gambling machine producing a standard profit of £52,887 every year, it will be useful to have a relatively lower number for minimized loss.
