The anticipation for ICE London 2024 is building, and iGB has launched a special series to get everyone ready for the biggest gambling show of the year. This series will cover all the latest developments since ICE London 2023, starting with the Gambling Act white paper and the new German gambling regulator taking charge.
The white paper released by the UK government in April of this year outlined reforms to the 2005 Gambling Act. The industry had been expecting many of the measures included in the white paper, such as stake limits for online slots. The government is currently working through these measures with a series of consultations, including exploring stake limits for online slots, ranging from £2 to £15 per spin. This includes specific limits for 18- to 24-year-olds, who are considered to be especially vulnerable to problem gambling.
The government’s decision to pursue a blanket limit, rather than a tiered or “smart” limit, could have significant implications for the industry. Estimates put the total reduction in gross gaming yield anywhere between £16.1m and £413.5m, with additional costs to operators’ bottom lines ranging from £5m to £10m per company. This could lead to a significant change in the number of slots available to players, as seen in the German market where a €1 per spin stake limit is enforced.
In Germany, the new gambling regulator, Gemeinsame Glücksspielbehörde der Länder, took full control of the regulated sports betting and igaming market in 2023. However, the implementation of strict regulations, such as slot stake limits and taxes on slot and poker stakes, has led to challenges in the market. Reports of a boom in black market activity have raised concerns about the effectiveness of the new regulations. This has led to a decrease in player deposits and gross revenue for licensed operators.
In summary, the road to ICE London 2024 is filled with significant developments in the gambling industry, from proposed stake limits to the challenges faced by new regulators. It will be crucial for industry professionals to stay updated on these developments as they prepare for the biggest gambling show of the year. ICE London will take place from 6-8 February 2024, with ICE VOX running from 6-8 February.