THE regulator responsible for overseeing gambling in the UK was branded “toothless” today for failing to control the industry effectively.

The Gambling Commission, part of the government’s Department for Digital, Culture, Media and Sport (DCMS), says it aims to “protect the interests of consumers” and “prevent harm” to the public.

But the Commons Public Accounts Committee says the department and commission “are failing to protect consumers, including children and vulnerable adults.”

The committee warns that the gambling industry is fast-expanding online at a time when the UK has an estimated 395,000 problem gamblers and a further 1.8 million “at risk.”

“Penalties for companies which are not tackling problem gambling are weak and [the DCMS] has been complacent when it comes to ensuring effective regulation in an industry which is expanding and moving online,” its report says.

It warns that the fallout from gambling addiction can have a widespread and devastating impact, ranging from relationship breakdowns to criminality or even suicide.

“The commission’s ability to protect consumers, particularly children and vulnerable adults, is also fundamentally constrained by inflexible funding and an outdated legal and regulatory framework that can reduce regulatory funding the larger the major gambling firms get,” it says.

Matt Zarb Cousin, spokesman for the Campaign for Fairer Gambling and a former aide to Jeremy Corbyn, said: “This report is damning and shows why the need for gambling reform is urgent. Our laws were written before smartphones even existed, and mention betting by post more than online gambling. The industry has since exploded and the regulator is no longer fit for purpose.”