The Government has said it will publish a White Paper into gambling reform in coming weeks.

The Prime Minister is set to announce restrictions on the industry as part of the review of the 2005 Gambling Act amid concerns current regulations require changes to accommodate the growth of online Sports Betting.

The Times reported proposals to prohibit gambling companies from shirt sponsorship were set to be rejected in favour of reaching a voluntary agreement with Premier League clubs, sports betting while also keeping the option of legislation in reserve.

A spokesperson for sports betting the Department for Digital, Culture, Media & Sport refused to comment on speculation, but added: "We are undertaking the most comprehensive review of gambling laws in 15 years to ensure they are fit for the digital age.

"We will be publishing a White Paper as part of a review of gambling legislation in the coming weeks."

The Government will reportedly announce measures including online casinos having maximum stakes of between £2 and £5, a ban on free bets and VIP packages for those who incur heavy losses, as well as "non-intrusive" affordability checks.

The Government has said it will publish a White Paper into gambling reform in coming weeks (Ben Birchall/PA)

Firms will also have to remove online features which increase the level of risk for customers, while the Gambling Commission will be granted new powers along with extra funding from increased fees paid by the industry.