GAMBLING reform campaigners have welcomed the “long overdue” move that betting companies will fork out £60 million to help gambling addicts, but warned gambling addiction services remain “chronically underfunded.”

The owners of William Hill, Ladbrokes Coral, Paddy Power Betfair, Skybet and Bet 365 announced today that they will increase their voluntary levy on gambling profits from 0.1 per cent to 1 per cent by 2023.

This would mean a contribution of £60 million to aid and assist problem gamblers.

Matt Zarb-Cousin, director of Gamban, a software that blocks gambling sites on all devices, told the Star: “Gambling addiction services remain chronically underfunded, so this is long overdue.

“Giving 0.1 per cent of their total profits was nowhere near enough.

“The government could ensure every operator pays 1 per cent by using powers already in the legislation to make the levy statutory.

“It’s vital this extra money goes to an independent commissioning body that ensures treatment upholds clinical standards, and that research projects are independent of the gambling industry.”

Last month, an anonymous source from inside the betting industry told the BBC that the industry was “on a precipice” due to its lack of support for people with gambling problems and compared it to the alcohol and tobacco industries.

Talking to the BBC today, Paddy Power Betfair chief executive Peter Jackson said the company wants to create an “unprecedented level of commitment and collaboration” to gambling addicts.

“We do think we need to increase the amount of money that is available to protect the young and vulnerable,” he said.

Labour welcomed the news, but deputy leader and shadow culture minister Tom Watson warned that “too many gambling companies still shirk their responsibilities” when dealing with the fallout of gambling abuse.

Last month, Mr Watson called for an independent gambling ombudsman to protect consumers from what he called “predatory” gambling companies and reiterated Labour’s calls to have a 1 per cent mandatory levy on gambling companies starting in September 2019.

Labour sources claim that this could raise over £100m every year.

In a statement, Mr Watson said: “The providers of research and treatment of problem gambling need the guarantees of consistent funding and a proper structure that only comes with a mandatory levy.”