The UK Government has announced that Fixed Odds Betting Terminals (FOBTs) will have the maximum stake reduced from the current level of £100 to £2, which was the biggest fear for bookmakers.
Sports Minister Tracey Crouch who made the announcement said that a high number of people seeking treatment for addiction say FOBTs are “their main form of gambling”.
It is estimated that the UK Treasury will lose £1.1 billion over three years with the reduction and many bookmakers affected say that thousands of jobs will be lost along with many retail outlets closing.
However The Minister for Sport went on to say about the reduction: “Following analysis of the evidence received at consultation, £2 has been found to be the stake limit that would most substantially impact on harm by reducing the ability to suffer high session losses, while also targeting the greatest proportion of problem gamblers, and mitigating risk for the most vulnerable players for whom even moderate losses might be harmful.
Ms Crouch added: “Even cutting to £10 would leave problem gamblers, and those most vulnerable, exposed to losses that would cause them and their families significant harm.”
The announcement from the government did not say when the reduction will come into force, William Hill had been asking for a one year time limit on the change.
Showing posts with label FOBT. Show all posts
Showing posts with label FOBT. Show all posts
May 17, 2018
November 22, 2017
Unnamed Northern Ireland Bookmaker Arrested for having FOBTs
In a landmark case a bookmaker in Northern Ireland has been arrested for having Fixed Odds Betting Terminals (FOBTs).
A file has already been sent to the Public Prosecution Service who will decide if the unnamed bookmaker will be charged and go to court for trial.
Currently there are some 600 FOBTs in Northern Ireland who has devolved powers on gaming which differ from the rest of the UK.
In Northern Ireland it is stated that a “Gaming Machine” has a maximum stake of £0.30, however a FOBT currently has a maximum of £100.
The bookmakers in Northern Ireland, Ladbrokes, William Hill, Paddy Power, Sean Graham, McLean’s and Toal’s argue that FOBTs are not classified as Gaming Machines and so do not fall in to the £0.30 stake.
It is understood that this arrest and case will be a test for the classification of FOBTs in Northern Ireland. The decision is not expected to be a quick one from the Prosecutors Office and if and when the Bookmaker in question will be named.
A file has already been sent to the Public Prosecution Service who will decide if the unnamed bookmaker will be charged and go to court for trial.
Currently there are some 600 FOBTs in Northern Ireland who has devolved powers on gaming which differ from the rest of the UK.
In Northern Ireland it is stated that a “Gaming Machine” has a maximum stake of £0.30, however a FOBT currently has a maximum of £100.
The bookmakers in Northern Ireland, Ladbrokes, William Hill, Paddy Power, Sean Graham, McLean’s and Toal’s argue that FOBTs are not classified as Gaming Machines and so do not fall in to the £0.30 stake.
It is understood that this arrest and case will be a test for the classification of FOBTs in Northern Ireland. The decision is not expected to be a quick one from the Prosecutors Office and if and when the Bookmaker in question will be named.
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