The UK has been trying forms of regulation for a while, including deposit limits - if you try and deposit more than about £150 a month into an account, the bookmaker may ask for proof you can afford it (payslips, bank statements, things most people don’t want to hand over).

In general, it’s been a disaster: it’s just moved betting to (illegal), offshore bookmakers. It’s pretty easy to get on via WhatsApp if you need to, these days.

I’d suggest most territories should be OK with sports bets on singles, not parlays, and block online casinos and slots. That latter category is very problematic for addicts. I get why it’s problematic for fans watching the game, which is why UK leagues have started to push it out a bit (no shirt front sponsors in EPL for example). I’d definitely push more down that route.

I’d also legally force platforms to move away from RFQs and parlays because they create an unfair asymmetry that harms the backer and creates huge profits to the layers (bookmakers, or market makers on prediction markets).

Disclosure: I write software that trades on exchanges in the UK. I have skin in the game, the above is based on what I track over here.