Self Regulation Does Not Work


The UK regulator are going to fine 888 betting firm £8 million for not protecting gambling addicted customers from themselves. Fair enough I saw , but why would you expect vampires to not indulge themselves in a blood bank?

Any form of self regulation is always going to be doomed. Laissez faire regulation and economics do not work. Never has done, never will.

However, laissez faire social interaction does work but is very rarely acted on as it means the elites wont get their own way. Conversely the elites do get their own way in laissez faire economies because they will have better networks and access to money and power.

My views are not communistic they are based on reality and the analysis of the last 30 odd years of Thatcherism and Reaganomics.

So fining 888 is OK but it really does need a statutory law which will remove problem gamblers from betting if they have chosen to self ban themselves. It is convoluted but easily done online, however, it maybe difficult in the real world of betting shops and brick house casinos.

I know my idea is simplistic but it is also doable and should be done right now by the government, to prove that the government are not in the pockets of the bookmakers.