The U.K. is set to hit the brakes on the online gambling business — with significant implications for Premier League teams.
In an effort to ward off legislation, the Premier League is asking clubs to agree to a voluntary ban on new gambling shirt sponsor deals.
- Premier League clubs will vote on phasing out existing gambling shirt sponsors — 14 of the league’s 20 teams are required for the measure to pass.
- Last season, 10 clubs had gambling company shirt sponsors.
- Under the Premier League’s proposal, clubs would end any existing shirt deals within three years.
The U.K. government plans to decide on a potential shirt sponsor ban by July 21.
Premier League clubs would likely be able to find equally lucrative deals with other companies. However, the second-tier English Football League, whose title sponsor is Sky Bet, said its clubs would lose $47.8 million per year.
Risky Time for Gambling
The U.K. is considering sweeping updates to its 17-year-old gambling laws to combat addiction and other gambling-related issues.
Among the reported changes under consideration are a betting limit on online casinos of $2.40 to $6 per wager, bans on games that allow users to lose lots of money very quickly, and a ban on free bets.