Charity Organizations Are Helped by Gambling OperatorsMay 8, 2020 John Isaac
The regulatory shortcomings of UK gaming companies are now financially helping problem gambling charity organizations, while the National Lottery pledged £600m to shore up organizations and other groups affected by the pandemic of COVID-19.
The UK Gambling Commission (UKGC) reported on Wednesday that it was giving £9 m to the managing and industry-funded GambleAware gambling organization. The donation from UKGC aims at ensuring that the charity is able to continue to provide care and assistance to people who have gambling problems during the pandemic lockdown.
While the research made by UKGC indicates that the involvement in gambling is declining since the lockdown started, the regulator says that evidence has indicated that some people increase their use of certain gambling products, such as online slots, poker, casino gaming, and virtual sports. GambleAware confirmed last week that it exceeded its £10 m annual fundraising goal for the first time, but CEO Marc Etches said he will not say no to additional cash at this uncertain time.
GambleAware has just raised its donation requirements for its 2020-21 fiscal year and requires all UK-facing operators to contribute at least 0.1% of their gross gaming profits annually. GambleAware stated that the donations are expected to rise to a minimum level of between £15 million and £20 million, subject to publication of an updated delivery plan, for donations that will be necessary for 2020/21.
The UK National Lottery Will Donated £300m to Charities
The United Kingdom National Lottery promoter Camelot donated £1,65b to charities this year but last month the Lottery revealed that it will donate up to £300m to charities and local volunteer organizations in the coming months to help support the most vulnerable in the UK during the pandemic.
This week the Lottery revealed that organizations impacted adversely by COVID-19 will now be able to draw up a wide support package up to £600 m while the previously reported funding amounts to £300m.
The support is accessible in the UK for organizations promoting arts, the community, and charities, heritage, education, nature, and sport. Dawn Austwick, Chairman of the National Lottery Committee, said funds are available to change the focus and meditate the unprecedented pressure that community groups are suffering as a consequence of the pandemic.
The Gambling Industry Is Facing Financial Crisis Due to COVID 19
The new pandemic known as COVID 19 is believed to originate from the Chinese city of Wuhan where it first appeared in November 2019. Due to lockdowns all over the world, many industries are suffering a tremendous financial crisis.
Despite that, now more than ever is needed charity funds that will help people support the most vulnerable ones during the pandemic. On top of that, studies report that online gambling has significantly increased during the lockdown in the UK. It caused the gambling operators to put down radio and TV gambling advertisements in order to protect people who have problem-gambling tendencies.
The industry is giving the best efforts to show they care for their customers despite the severe financial problems it is facing right now when casinos are closed and most of the sports matches on which bettors can bet are postponed or canceled.