#gambling-legislation

#gambling-legislation

The bill describes a 'prediction market' as 'a system that allows consumers to place a wager on the future outcome of a specified event that is not determined or affected by the performance of the parties to the contract.'

"Sports prediction contracts are sports bets - just with a different name. And yet, these contracts are currently offered in all fifty states in clear violation of state and federal law."

Around half a million children could be lifted out of poverty through reforms to UK gambling laws, according to the Institute For Public Policy Research (IPPR). Their report claims that £3.2 billion could be raised by altering gambling tax policies, sufficient to eliminate the two-child limit and benefit cap. These changes would significantly help reduce child poverty, which currently affects approximately 4.5 million children in the UK.