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Gambling: Spread Betting

House of Lords written question – answered on 24th July 2013.

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Photo of Lord Stevenson of Balmacara Lord Stevenson of Balmacara Shadow Spokesperson (Business, Innovation and Skills), Opposition Whip (Lords), Shadow Spokesperson (Culture, Media and Sport)

To ask Her Majesty’s Government what discussions they have held with (1) the Gambling Commission, and (2) the Financial Conduct Agency, about the regulation of spread betting on sporting events; whether they have any plans to introduce appropriate regulation; and, if so, what.

Photo of Lord Gardiner of Kimble Lord Gardiner of Kimble Lords Spokesperson (Department for Culture, Media and Sport), Lord in Waiting (HM Household) (Whip)

Spread betting on sporting events is already a regulated activity, within the meaning of section 22 of the Financial Services and Markets Act 2000, and as such is authorised and regulated by the Financial Conduct Authority. Ministerial colleagues regularly discuss a range of matters with the Gambling Commission.

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