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Online Casinos need betting cap, says British MP

The online casinos industry is a $12 billion dollar a year industry and the speed and quickness of playing at online casinos has gripped poker players all over the world. The popularity of online casinos, and the hands per minute speed of online casinos, has led to new TV reality poker ventures. Online casinos are always looking for an edge on the competition. Some online casinos choose sign up bonuses or promotions such as refer a friend deals to attract consumers. Other online casinos advertise in more unique ways through guerilla marketing or unique stunts. Even other online casinos look to gain market share in the industry through sponsorships and mergers and acquisitions. Whatever the strategy, the $12 billion dollar a year online casinos industry is booming, and now online casinos have raised the sponsorship stakes by pushing to make a big impression in the world.
Still, some believe that players at online casinos are spending way too much. One such believer is a British politician who believes new regulations and laws should be introduced that would limit the amount people can spend at online casinos via their credit cards or bank accounts.
Because many people have access to online casinos and also access to credit card accounts without high overheads, problems of online casinos seeing major credit card debts being rung up have increased recently, and the problem is getting even more dangerous. Should credit card firms do something on their own? Or do they need a little push from someone like a major British politician who understands the industry?
Credit card firms should place a cap on how much can be spent on internet gambling sites, an MP has said. Mike Weir, the Scottish National Party (SNP) MP for Angus, called for a limit of £1,000 a week and for sites to limit players to one credit card each.
It follows cases where gamblers have spent thousands on other people's cards and concerns over gambling addiction.
But both APACS, which represents the card industry, and Partygaming say there are major problems with the idea.
They say the way to tackle the problem is to deal with the person's addiction, rather than further limiting access to online gambling.
Online gambling has swept the UK, with four million people now playing each month.
Online gambling is forecast to grow by 22% this year and with it fears over the number of players with serious debt. The average online gambling debt in the country is £25,000.
The industry already pays £3m a year into a trust to deal with the issue of problem gambling.
Doctors warned earlier this week that internet gambling and super-casinos will cause an explosion in gambling addiction.
They said at the British Medical Association's annual conference that it had become easier to gamble and warned there was little support in place to help those who were addicted.
They called for research into prevention and the availability of more treatment.

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