BOOKMAKER Paddy Power has urged the Government to scrap plans to impose jackpot limits on online casino games because it will push this form of gambling underground.
Minister of State James Browne’s new Gambling Regulation Bill, due to become law next month, has caused widespread upset within the industry.
New measures include a ban on advertising during the day, the establishment of a social-impact fund to support problem gambling initiatives, and the creation of the country’s first gambling regulator with sweeping powers in the sector.
Paddy Power’s parent group – Flutter UKI – has called for regulation in Ireland and backs the vast majority of the Bill.
But it has warned the Government that imposing a €3,000 limit on games such as roulette, slots and poker, as well as limiting advertising and restricting promotions could hit tax revenues and send many people to the black market
In a poll of the Irish bookmaker’s customers, 95 per cent said they were against the move, while 92 per cent had no idea the Government was even proposing the plan.
Paddy Power have said it would put Ireland on a par with Greece – the only other nation in the EU to introduce limits on jackpots.
Greece introduced a cap of €70,000 in 2021 but a year later doubled this to €140,000.
The bookmaker said the cap that Minister Browne is proposing is 46 times lower.
Paddy Power, the son of the bookie’s founder David Power, said: “Punters have given a resounding ‘No’ to the idea of these win limits – and as always at Paddy’s, we stand with them.
“We absolutely support a lot of the Gambling Regulation Bill – we are committed to responsible gambling and have been calling for regulation in Ireland for more than a decade.
“But limiting max wins to €3,000 – that’s a bridge too far and has more than a fair whiff of the Nanny State about it.
“We reckon it’s best for Ireland to avoid a Greek tragedy and instead of hard-wiring these limits into the bill from the off, the Government should ask the new Gambling Regulator to study the evidence and come back with new plans.”
The Gambling Regulation Bill proposes limits on both stakes and wins for all types of online casino style games, regardless of the nature of each game.
POTENTIAL PAYOUT
Flutter UKI introduced stake limits of €10 in 2021 for online slot games but didn’t believe a limit was necessary for roulette and poker.
Some 88 per cent of Flutter UKI’s table game customers play games that have a potential payout above €3,000.
Black market play is thought to account for around 20 per cent of the market in France and Spain and even more in Italy, according to the bookmaker.