GVC CEO Furious at Amount of Betting Ads
Kenny Alexander, the chief executive of GVC Holdings, is furious at “out of hand” betting ads and has called for a pre-watershed ban on all averts in the UK. He has suggested that all TV ads related to gambling should be banned before 9 pm. He referred specifically to the adverts during football games and asked the industry to work in unison to change the status quo.
Regulators could cave in amid consistent pressure and create stricter advertising codes for gambling operators. The UK Gambling Commission created new rules for gambling advertising in August and promised tough action on operators that breached regulations. The Advertising Standards Authority has been busy over the past few months, handing out fines to gambling operators as part of their gambling advert crackdown.
Consumer protection and empowerment programme director Ian Angus recently commented that consumer trust in gambling is at an all-time low. Angus referred to a survey, which suggests that two-thirds of consumers want betting ads to be discouraged.
Alexander’s comments on the state of advertising are the most striking of them all as they come from within the industry. He talked to City A.M. and said that most people in the gambling industry also believe there are too many betting ads.
He also noted that it could be difficult for the industry to work together on this issue as a whole but if companies come together to lower the number of ads, changes will be noticeable by year-end. A self-imposed ban could hurt the industry, but it would level the playing field for the operators.
The younger generation is more vulnerable to gambling, and those who cannot legally gamble right now will be able to do so within a year or two. Video Gaming is considered a gateway to online gambling for youth by some experts, with leading video game makers such as Ubisoft EPA:UBI under governmental pressure to curb gambling type games.
It is the government that should eventually decide if legislative action is necessary, according to Alexander.