The government is reportedly considering including proposals to restrict betting ads on TV in its review into fixed-odds betting terminals.
A senior minister was quoted by The Times as saying, "The gambling industry’s luck has run out".
The move would be significant for broadcasters such as Sky and BT Sport, whose football coverage attracts million of pounds in revenue each year from betting ads.
This summer Sky Sports inked a three-year deal with bet365 to sponsor its live Premier League football coverage.
The Gambling Commission has reported the number of Brits with a severe gambling problem has almost doubled in three years to 336,000 people, or 0.7% of the population.
A Department for Culture, Media and Sport spokesman said: "We will continue to monitor the effectiveness of existing gambling controls and will take further action if necessary."