Politicians failed to tackle key industry concerns when they passed new gambling laws this week, claims Paddy Power owner Flutter Entertainment.
The Gambling Regulation Bill, which modernises the law to boost consumer rights and establishes a new authority to oversee the industry, passed the final stages in the Oireachtas on Wednesday.
Dublin-based Flutter, owner of Paddy Power, Betfair and FanDuel in the US, among other brands, welcomed the legislation, but cautioned it could hit Irish horse racing and have other “unintended consequences”.
The company, along with the Irish Bookmakers’ Association and the horse racing industry, raised several concerns about the bill while TDs and senators debated it over the last two years.
Key areas of concern to the industry included a blanket ban on broadcast betting ads between 5am and 9.30pm, which could have long-term implications for media coverage of horse racing. The ban includes the specialist, subscription channel Racing TV, which covers all Irish race meetings and which has warned that the move could affect the viability of this coverage.
Media rights generate valuable revenue for the sport, while leading figures including trainer Willie Mullins have said that ending this coverage could damage an industry that is a big employer in rural Ireland.
Racing TV, part of British-based Racecourse Media Group, told The Irish Field this week that it expected to have one year to find a solution to the problems posed by the new law and would continue broadcasting Irish racing.
Sky Sports Racing, popular with many Irish viewers as it screens racing from British tracks including Ascot and Newbury, said it would launch a dedicated Irish feed to comply with the new law.
Flutter, its rivals and others, including casino operators, independent lottery operators and poker tournament organisers, also highlighted €10 betting and €3,000 win limits imposed on games including roulette and blackjack, and €5,000 for bingo, which threaten some businesses’ viability.
The limits are more severe than those imposed by other EU jurisdictions, and industry figures argue that this could drive punters to unlicensed black market operators.
[ Incoming gambling laws prompt concerns for boost to black market bettingOpens in new window ]
Greece recently doubled its win limits to €140,000, 46 times higher than the Irish cap, to deal with this risk.
Similarly, the industry says restrictions on inducements, such as “free” bets and other offers, could also open the door to the black market.
The law modernises licensing for bookmakers, a move the industry welcomes. It also includes measures to strengthen existing bookmakers’ schemes where customers who fear they have problems can exclude themselves from betting with that company.
Flutter and the Irish Bookmakers’ Association have also welcomed these steps. The betting group said it looked forward to “working closely with the new Gambling Regulatory Authority of Ireland to help raise standards across the industry”.
- Sign up for the Business Today newsletter and get the latest business news and commentary in your inbox every weekday morning
- Opt in to Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Join The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here
