Four companies will work alongside three working groups, with Scientific Games and Playtech to produce an effective industry code for product design, Sky Betting and Gaming overseeing advertising technology and GVC Holdings to lead the group addressing VIP incentives.  

The product design group will look at how the industry can produce safer products, the second group will attempt to reduce adverts seen by children and vulnerable adults, with the third to strengthen existing rules around incentives.

Gambling Commission CEO Neil McArthur said: "Consumer behaviour and technology are changing so quickly that only a bold and innovative approach will allow us to achieve a reduction in the number of people experiencing, or at risk from, gambling-related harm.

"I’ve been encouraged by the willingness of so many operators to work with us on these challenges. If rapid progress is not made, we will have to look at other options, as making gambling safe for consumers is paramount."

Commission statistics show 24 million adults gamble in Great Britain (GB), with more than 300,000 classified as problem gamblers.

The Commission has also sought advice from both the Advisory Board for Safer Gambling and the Digital Advisory Panel, to help with problem gambling online.