Gambling Executives to Face Vetting Process in Ireland
Ireland’s gambling regulator is to start vetting executives to protect consumers from predatory betting firms.
Irish gambling regulator planning on vetting executives. © seanegriffin, Pixabay
Key Facts:
- The CEO of Ireland’s regulatory authority confirms plans to vet executives
- This is to offer consumers better protection against potentially unreliable gambling companies
- Ireland’s newly established regulator to introduce several other new measures and protocols
On Wednesday, March 5th, the Gambling Regulatory Authority of Ireland (GRAI) was formally established. The newly formed government body is in charge of regulating all forms of gambling (both in-person and online) in Ireland, except the National Lottery.
The GRAI will license operators of gambling services in Ireland. It will also deal with customer complaints, create and maintain a social impact fund and set up a national gambling exclusion register. Though it’s just launched, preparatory work behind the scenes has been going on for over a year.
Its CEO is Anne Marie Caulfield, who has confirmed in an interview with the Irish Examiner that she plans to vet executives of leading gambling firms. This will be carried out during the licensing process and should better protect consumers from firms that take advantage of vulnerable people.
The GRAI’s Vetting Plans and Penalties
Caulfield has said that the GRAI intends to use everything within its power to protect members of the public from predatory gambling firms.
Companies that break the GRAI’s strict rules will face harsh penalties, which can include multi-million euro fines, licence suspension and even licence revoking.
Here’s what Caulfield has said about the vetting process:
As part of that vetting process, we will be asking who the responsible individuals are and vetting them individually. Obviously, then subsequently, if there’s an issue, we’ll be tracking back to that.– Anne Marie Caulfield, GRAI, GRAI CEO Speaks About Vetting Plans, Irish Examiner
The vetting of executives is important. This is because a gambling company can pass the licensing process even if one or more of its top staff members intend to cause consumers harm. Vetting should ensure that only the right people are responsible for gambling firms.
Tackling Gambling Advertising and Imposing Prize Limits
As well as carrying out thorough checks on gambling executives, the GRAI will keep an eye on how gambling is advertised in Ireland. Gambling companies licensed by the GRAI must follow its advertising restrictions so that people aren’t exposed to it too much.
Caulfield was asked about the practice of gambling companies using interviews with former sports stars as press releases to drum up business. She said that the GRAI has legislative powers to keep on top of such practices and make sure advertising is done properly.
She’s also said companies could face warnings about potential losses for breaking the rules. There are multiple routes the GRAI could take to monitor gambling advertising, and the regulator will look at these more closely in the near future.
Caulfield also mentioned lottery and raffle prizes. As per new licensing requirements for charities and other organisations offering lotteries and raffles, the prizes will have a €2,000 limit. This particular requirement won’t come into effect for a few years.
Dealing with Problem Gambling
Problem gambling remains a significant problem in Ireland. Caulfield pointed to a study carried out by the Economic and Social Research Institute that found that 1 in 10 people in Ireland have experienced moderate or significant gambling harm. Worryingly, nearly half (47%) of gambling turnover comes from these people.
She also spoke about the ongoing need to protect those under the age of 18 from being exposed to gambling. Children who gamble before turning 18 are twice as likely to have gambling-related problems later on in life.
Finally, there’s the matter of suicide caused by gambling-related problems. Caulfield mentioned another study that mentioned 23 suicides being linked to gambling. She’s met with people affected by the worst problems and seen how their families are affected just as much.
This is one of many factors that make the role of the GRAI’s CEO important. Caulfield is determined to do everything she can to prevent people from experiencing gambling harm and help those currently experiencing it.
