Belgian Regulator Limits Maximum Online Betting To €500 Per Week

Belgian Regulator Limits Maximum Online Betting To €500 Per Week

In an effort to curb an excessive increase in online gambling that could potentially harm vulnerable groups, the Belgian gambling operator has now limited the maximum betting amount.

What is the new limit?

The Belgian Gaming Commission (BGC) revealed the maximum limit of €500 for weekly deposits on online gambling sites on April 6. The decision would help the commission protect local people from excessive gambling. Belgians are staying at home because of the COVID-19 crisis. The customers cannot boost their maximum limit for now. However, they can request a lower limit to be imposed on their accounts.

Belgian Regulator Limits Maximum Online Betting To €500 Per Week

This kind of reduction can be requested through the gambling website and will be made effective immediately. The maximum limit of €500 can later be restored if the player wants. However, this change will come into effect after three days. This would avoid the possibility of gamblers chasing their losses.

BGC wants to protect customers

The Belgian gaming watchdog recently advised players to deal with their temptation to gamble more while they are experiencing a lockdown. Self-isolation may force people to find more time for speculative activities and start compulsive gambling. The COVID-19 outbreak has led to a large-scale shutdown of retail begetting offices, casinos, betting kiosks, cafes, newsagents and slot halls in the country but online gambling options are still accessible to users.

The BGC announced last week that it would extend the retail gambling shutdown till April 19th on the Belgian government’s advice. The government has also offered retail gambling operations tax breaks which will be 1/12th of their annual fee. The tax break will be applicable for each month during the lockdown period.

The regulator recently appointed Magali Clavie as its new head who replaced Etienne Marique. Clavie is working on evolving the regulator and is highly focused on customer protection and the imposition of qualitative controls on the local gambling market.

Retail operations are badly affected because of the shutdown. All major sporting events have been canceled across the world because of which sports betting operations are also hurt.

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.