Betting was legalised in 1961 for 2 reasons in the main:
1 - better government control.
2 - to allow SMALL bets to be placed.
How can people be allowed to bet massive amounts? This is the problem - you can resolve the whole industry by implementing legislation to say that the max bet is £20. This would wipe out all problem gamblers. 99% of this country would say a small bet is less then £20.
Questionable whether it would "wipe out" problem gamblers. 100 £20 bets in a day/week is still a lot of money - maybe it would just delay the inevitable.
Better customer scrutiny from the betting industry - temporary banning of accounts, proof of funding sources, inter-betting-company communication on 'problem gamblers'. Better customer scrutiny from banking institutions - flags and limits on funding betting accounts.