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Anti-addiction campaigners applaud mandatory gambling tax and restrictions on stakes

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November 27, 2024
in Economy, Investing
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Anti-addiction campaigners applaud mandatory gambling tax and restrictions on stakes
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Over 430,000 individuals in the UK are believed to suffer from gambling addiction, according to recent statistics. Among these is David Bradford, a 68-year-old accountant who, on the surface, appeared to have a stable job, financial security, and a normal family life. However, in April 2014, Bradford shocked his family when he announced that he would be attending court the following day. Despite his reassurances that it was work-related and not a cause for concern, he did not return home and was later revealed to have been sentenced to two years in prison.

With no explanation left by Bradford, his family was left to piece together the situation. His son, Adam, described it as a “nightmare,” as they were forced to not only deal with the emotional fallout but also the financial turmoil left behind by Bradford. It was discovered that he had accumulated almost £500,000 in debt through loans, remortgaging their home, unpaid bills, credit card debt, and payday loans. It was later revealed that Bradford had been struggling with a gambling addiction for over 30 years, starting with arcade and fruit machines and eventually escalating to Fixed Odds Betting Terminals and online gambling, costing him over £40,000 per year.

Since his father’s imprisonment, Adam has been tirelessly campaigning for change in the gambling industry. Now, after 10 years of advocacy, the father-son duo has finally made an impact. In a Government announcement today, a statutory levy of £100 million will be introduced to fund treatment and research for gambling addiction. Additionally, the amount that can be spent on online slots for adults will be limited to £5, and for young people, £2 per spin.

Adam expressed his satisfaction with the measures, stating, “For too long, gambling companies have taken advantage of the most vulnerable people in society, and been allowed by successive governments to get away with it. These new measures will have a very positive impact on the outcomes for those struggling with gambling, and they are long overdue.” He also emphasized the need for continued efforts to combat gambling addiction, as it disproportionately affects the most vulnerable members of society. “We are not saying gambling should be completely prohibited,” Adam clarified, “but it is high time that the addiction was given the attention it deserves.”

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