The Irish government has introduced a swathe of gambling industry reforms through the approval of the Gambling Regulation Bill.
The legislation was passed earlier this week, with the Irish Taoiseach Michael Martin maintaining that he hoped the bill would work to reduce the effects of gambling-related harm.
Under the new laws, gambling advertisements will be banned between 5.30 a.m and 9 p.m, with adverts aimed at children and problem gamblers prohibited. Additionally, the use of credit cards in retail gambling locations will be prohibited, while the placement of ATMs in these establishments will be controlled.
The legislation will also pave the way for a new Gambling Regulator Authority, which will enforce the new laws and work to review and update gambling industry licensing standards in the country. Companies operating without a license could face heavy penalties, including prison sentences of up to eight years.
What’s more, finances will be set aside for a Social Impact Fund, designed to research and support the treatment of those harmed by problem gambling.
The Irish Bookmakers Association was said to have welcomed the new legislation, hoping that it will herald a new dawn of Irish gambling industry regulation.
Last month, Flutter Entertainment revealed that it was spending over €100m ($104m) per month on responsible gambling initiatives as the legislation looked likely to receive government approval.