UK gambling firms agree to ban ads during sporting events

The changes will stop betting advertisements from being shown in commercial breaks during live sports would come into force in the summer of next year, the Industry Group for Responsible Gambling said.

"We believe that these new voluntary TV measures, which have been approved by the trade associations representing every sector of the gambling industry, will drastically reduce the amount of gambling advertising on television and they complement the strict controls that already govern gambling companies around advertising on digital platforms," John Hagan, chair of the IGRG, said.

Gambling advertising has recently become a concern since it promotes betting addictions that in many cases could lead to family tensions, mental health issues, financial problems and exposure of youth to the dangerous practices without a proper warning of the consequences.

The changes were announced last week that lead to a drop in the share prices of Ladbrokes owner GVC Holdings and Paddy Power Betfair and William Hill. GVC shares were flat by late morning on Thursday, with Paddy Power and Hill's both slightly higher.