Irish lawmakers have passed landmark gambling legislation that will transform the sector in the country. [Image: Shutterstock.com]

Long time coming

Irish lawmakers have finally passed landmark gambling legislation to transform a sector worth up to €8bn ($8.7bn) annually. Legislators have discussed updating gambling regulator for 17 years. Minister of State James Browne began working on the newly passed Gambling Regulation Bill in 2020 before introducing it in 2022.

will introduce significant protections for the public

Talking to the lower chamber on Wednesday following the passage of the bill, Browne referenced the “extraordinary amount of work” that went into the “complex” legislation that will introduce significant protections for the public in what was previously a largely unregulated sector of the country.

The bill now heads to the desk of President Michael D. Higgins for him to consider and officially sign into law.

Major overhaul

A wave of new alterations is coming to Ireland’s legislation for gambling, a framework that hasn’t changed significantly since 1956. One of the biggest moves is the creation of the Gambling Regulatory Authority of Ireland (GRAI) to look after the licensing of operators and oversee compliance. It will also have scope to suggest additional changes to legislation as it sees fit and issue fines of up to €20m ($21.7m).

a ban is also coming into place on social media ads

Restrictions on advertising will prohibit gambling ads on broadcast media between 5:30am and 9pm, while a ban is also coming into place on social media ads. People will need to opt in to receive other types of online marketing messages. The bill also bans incentives like free bets, hospitality, and VIP treatment.

Operators can no longer sponsor sports teams or organizations, while a new social impact fund will allocate resources from gambling companies to finance important addiction-related education and treatment programs.

Not for everyone

Not everyone is happy, including industry stakeholders who warn of the negative impact the bill will have on what is a major sector in Ireland. Horse racing in particular relies heavily on gambling-related advertising and a betting levy.

Share prices of major gambling companies like Flutter Entertainment and Entain dropped sharply earlier this week after news of a potential tax hike in the UK came to light.

Some major broadcasters, such as Racing TV, are on record saying they will likely shut down their Irish operations as it wouldn’t be economically viable to have a separate feed that doesn’t contain gambling ads. Sky Sports Racing revealed last week it plans to have a separate feed.

Legendary Irish poker player and tournament organizer Fintan Gavin aired his concerns in an exclusive interview with VegasSlotsOnline News about the lack of clarity in the bill regarding payout limits for poker tournaments.

The legislation implements a €10 ($10.86) max stake and payout cap of €3,000 ($3,258) on games like blackjack, roulette, and slots, without clarifying if poker falls under this bracket. He emphasized how important annual poker festivals are to the country and is “hopeful that the regulators will recognize this.”