A total ban will be imposed on gambling advertising on social media and there will be criminal sanctions for gambling companies who fail to protect children and vulnerable consumers under tough laws approved by Cabinet on Tuesday.

Terms of imprisonment of up to eight years can be imposed on the senior management of gambling companies that fail to follow the provisions of the Gambling Regulation Bill.

The proposed Bill is the most far-reaching and comprehensive legislation to regulate gambling in the history of the State and will fundamentally change the rules of gambling in Ireland, both physical gambling and the burgeoning online industry.