Paddy Power owner Flutter has said it remains concerned about unintended consequences of the Gambling Regulation Bill, which completed its passage through the Oireachtas yesterday.
But Flutter also said it welcomes the passing of the bill, including the strengthening of measures around self-exclusion.
“While we support much of what is contained within the new legislation, we believe the way it has been written could have an impact on the future of horse racing in Ireland and drive more players into the open arms of the unlicensed and unregulated black market,” a spokesperson for the gambling firm said in a statement.
“However, we look forward to working closely with the new Gambling Regulatory Authority of Ireland to help raise standards across the industry.”
Specifically, the company is concerned about the introduction of stake and win limits for online gaming, restrictions on inducements and the impact of advertising restrictions.
It is also understood to be unhappy that €10 stake limits on all games and €3,000 per game win limits.
Licensed firms are worried that the restrictions on inducements and advertising will make it easier for unlicensed operators to target consumers.
This has been seen in other jurisdictions, including Germany where the unlicensed market is thought to account for more than half of gambling spend.
Once signed into law, the legislation will provide for a new seven person Gambling Regulatory Authority of Ireland, which will have an initial budget of €9.1m next year.
“While we have a lot of preparatory work done, we will have a phased introduction of our functions, with a focus on licensing initially,” CEO designate, Anne Marie Caulfield said.
“As CEO designate of the new Authority, I am determined to ensure that licensees operate in accordance with the legislation while also fulfilling our mandate to establish safeguards to address problem gambling.”
It also aims to modernise and strengthen licencing and regulation of both in-person and online gambling.
The new laws will see the establishment and operation of a National Gambling Exclusion Register.
Tighter restrictions on the advertisement of gambling activities will also be introduced.
A Social Impact Fund to support awareness–raising and educational measures and to support problem gambling treatment activities is also to be set up.
“It provides for a new streamlined, simplified and coherent licensing framework – one that reflects the nature of gambling in modern society and addresses the proliferation of digital gambling activities and advertising in recent years,” said Minister of State at the Department of Justice with responsibility for Law Reform, James Browne.
“At its core, this legislation is a public health measure aimed at protecting our citizens from gambling harm, including younger people and those more vulnerable in our communities.”
“When established, the Gambling Regulatory Authority of Ireland (GRAI), will have the necessary enforcement powers to enable it to take appropriate and focused action where providers are failing to comply with the provisions of the Authority’s licensing terms, conditions and regulations.”