Bookmakers across Britain are joining forces to combat the scourge of problem gambling, or so the script goes at least. The formation of the P3 Group is seen by more cynical observers as just the latest, desperate attempt by the bookies to stave off a growing avalanche of pressure to better police the gambling industry.
Unsurprisingly, bookmakers believe that self-regulation is the best way forward, in line with trade groups of every bent who put the pursuit of profits above all else when it comes to their modus operandi. Just as unsurprising is the abject failure of self-regulation in all manner of business models, from Libor to health trusts to energy pricing and beyond – yet politicians still appear blasé about the perils of such a stance, an approach which has already had catastrophic effects in the world of gambling.
Read the full article on the Huffington Post online.