January 6 - The UK land based gambling industry has been struggling within the market for the past few years, following tougher laws implemented by the government and higher taxation.
This has been further exacerbated by non-smoking rules that were passed, essentially barring people from smoking in public places. As a result, less people are visiting casinos and bingo halls where UK slot machines are generally offered, and are instead turning to online slots sites for their gambling entertainment.
However, the UK government has brought good news to the gambling industry this year, with the announcement that it has agreed to increase the maximum wager and prize limit on slot and gaming machines in land based gambling halls in a bid to throw a life life to the struggling industry.
Calls to increase the maximum wagering limit by 100% to 1 GBP have been made to the Department for Culture, Media and Sports since the middle of last year. However, at the time, the government rejected these desperate calls, arguing that it could not justify allowing this type of increase, as well as a 70 GBP prize increase at a time where it is trying to implement tougher regulations and combat problematic gambling.
The UK government is now seeing wisdom in the decision to increase wagering and prize limits, especially since it will enjoy an extra 27 million GBP in the form of tax contributions.
It is believed that struggling gaming operators will be able to generate an additional 20% in revenue because of these changes.
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