The chairman of the UK's Digitization, Culture, Media and Sport (DCMS) Committee, Julian Knight, made a statement as the UK government launched a review of the 2005 Gambling Act.
The DCMS is a government review body that will assess the state of the current UK gambling legislation and assess if reforms are needed.
Knight described the review as an opportunity for the government to "balance" the playing field between players and industry.
He said: “We know gamers are taking risks in an increasingly internet-dominated world, battling sophisticated algorithms and increasingly artificial intelligence.
“The government has a chance to balance these chances.
“We want to see more transparency in the use of algorithms in marketing to promote gambling, we need fairness in betting exchanges.
"Most importantly, robust age verification needs to be put in place to prevent children from using age-restricted platforms."
The DCMS chairman also raised the issue of loot boxes, which has been a source of debate about their alleged link with gambling for some time. Knight said the DCMS would be waiting to see MPs "reduce the threat they pose."
Last week, The Guardian announced a number of areas that will be assessed during the trial. The review will reportedly take into account online staking restrictions, new powers to fight the parallel market, stringent affordability controls and a new product testing system, as well as a potential ban on sports gambling sponsorship.