Regulatory Changes Impact on the Gambling Industry in 2024

There have been a lot of big changes to gambling regulations over the years, and 2024 is no different. Recently, governments around the world - along with a multitude of regulatory bodies, such as the UK’s Gambling Commission - have been focusing their attention on tightening control over how, when and where people can gamble. By tightening the regulations surrounding gambling activities, it’s hoped that gambling addictions, financial hardship and the wider social impact of gambling will be somewhat under control. In this blog, we have taken a look at some of the key changes in 2024 and how they’re impacting the industry as a whole.

Key Regulatory Changes Shaping the Gambling Industry

There are a few different ways that governments and regulating bodies are approaching industry changes, and they’re set to make a big difference as we journey through 2024 and into 2025. These regulatory changes range from measures to protect players, to embracing machine technology.

More Measures to Protect Players

Many countries - including the UK, Australia and a lot of the European Union - have introduced stricter measures that are aimed at protecting players. This includes mandatory self-exclusion, limits on betting stakes and more rules surrounding advertising standards. It’s hoped that these efforts will give players the tools needed to control their gambling, limiting the potentially negative impact to their finances. 

Changes to Licensing and Compliance

Another approach to changing regulations is to target licensing and compliance. Gambling operators and online casinos are required to get licences that demand they adhere to strict guidelines. If these operators don’t comply, they could be faced with costly fines or risk losing their licence. It’s hoped that this will deter operators and casinos that aren’t committed to keeping gambling safe, ensuring that only those who are responsible can continue to operate and thrive. 

AI and Machine Technology Detection

A lot of sectors have embraced advanced technology - such as artificial intelligence (AI) and machine learning - and the gambling industry is no different. In fact, online casinos have really jumped on the bandwagon. A variety of advanced technologies are being used to monitor online gambling activities. Instead of operators having to manage everything themselves, they are handing it over to technology. With the help of AI and machine learning, complex algorithms are able to detect problematic and fraudulent gambling patterns, in the hope of ensuring compliance with gambling regulations.

A Bigger Focus on Responsible Gambling Practices

Alongside changing regulations, the gambling industry continues to look at promoting responsible gambling practices. This involves launching a handful of initiatives that have been designed to prevent gambling addiction and to provide support to those affected, as well as their families and loved ones. Many gambling platforms now offer self-exclusion tools, allowing players to ban themselves from gambling activities for a specified period. This could be for a period of 24 hours, a week, a month or much longer. 

Operators and governments are also investing in campaigns designed to educate people about the risks of gambling and to promote healthier gambling behaviours. There are a lot of support services available to help people who are struggling with unhealthy gambling practices, including GambleAware, counselling and financial advice. With this help available, players have someone to turn to if they feel that their gambling is becoming hard to manage. 

Stricter Regulations Drive Operators to Grey Markets

As gambling regulations tighten, some operators and online casinos are heading to grey markets, which are parts of the world where gambling laws are more lenient, less clear or not strictly enforced. Though this does allow operators to branch out and reach a broader market, there are downsides to gambling in grey markets.

In grey markets, the lack of regulations often means that there’s less protection for players. This can lead to issues such as winnings not being paid to winners, unfair gaming practices and lack of customer support when problems arise. There’s also a risk that operators and online casinos in grey markets could risk their reputation. A lot of people have a negative view of gambling in unregulated environments, and operating in these markets could damage brand trust and credibility.