May 21, 2018

United Kingdom government slashes maximum FOBT stakes to £2

17 May 2018, 05:42 | Taylor George

Ministers vow to 'protect the vulnerable' by slashing maximum stake on 'crack cocaine' gambling machines from £100 to £2

Bookies brace for big hit as Government caps FOBT stakes at £2

The excitement earlier this week around a breakthrough on sports betting in the USA has quickly disappeared for United Kingdom gambling stocks as a cut in the maximum stake on fixed odds betting terminals (FOBT) to £2 is confirmed.

UK Sports Minister Tracey Crouch said reducing the maximum stake to £2 "will reduce harm for the most vulnerable".

In July previous year, The News joined forces with Portsmouth City Council to impose a restriction on FOBTs.

"When faced with the choice of halfway measures or doing everything we can to protect vulnerable people, we have chosen to take a stand", said culture minister Matt Hancock in today's statement.

The move by Westminster follows a lengthy consultation about the machines - branded the "crack cocaine of gambling" by critics.

High street betting shops opposed such significant reductions in the maximum stake, claiming that thousands of jobs would be lost.

AJ Bell investment director Russ Mould says the Government will want to find a way to keep getting the levels of tax it used to enjoy from betting machines when £100 stakes were allowed.

Carolyn Harris, who leads the Parliamentary group on FOBTs, said: "This was morally the right decision to make", adding it was a victory for all whose lives "have been blighted by these toxic machines".

Not everyone has welcomed the Government's pledge to lower the FOBT maximum stake to £2.

Smackdown Reportedly Being Shopped as NBCUniversal Focuses On Keeping Raw
FOX is the current home of the UFC, which is also looking to renew its TV rights and just signed a streaming deal with ESPN+. Belloni reported NBCUniversal is allowing WWE Smackdown Live to go to open bidding, but RAW would remain with the network.

Zarif in Moscow as Russian Federation moves to save nuclear deal
Some experts believe that China may even increase its oil purchases from Iran, especially if it gets a distress-sale discount. The EU's energy commissioner is also traveling this week to Iran to discuss strengthening European energy support to Iran.

Ebola fears rise as outbreak reaches major city
The virus is transmitted to people from wild animals and spreads in the human population through human-to-human transmission. As per the report, epidemiologists are working to identify additional contacts to the 500 already identified.

The Association of British Bookmakers (ABB), which has previously opposed a possible crackdown on the industry, now warned that the decision would probably have a detrimental impact on the local bookmakers, with more than 4,000 betting outlets expected to close and about 21,000 employees in the industry set to lose their jobs.

"Those of us who have campaigned on this issue include trade unions, MPs, charities, think tanks, businesses, churches and other faith groups and most of all, concerned members of the public, some with very harrowing family stories".

FOBTs are the leading source of revenue for high-street bookmakers including Ladbrokes Coral and William Hill, the Financial Times reports.

'It is right that we take decisive action now to ensure a responsible gambling industry that protects the most vulnerable in our society.

The Gambling Commission will toughen up protections around online gambling including stronger age verification rules and proposals to require operators to set limits on consumers' spending until affordability checks have been conducted.

- Responsible gambling messages to appear for the duration of all TV adverts.

Elsewhere, Public Health England will review evidence relating to public health harms of gambling, while, as part of the next licence competition, the age limit for playing National Lottery games will be reviewed.

Since Labour's 2005 Gambling Act the number of FOBTs - which offer casino-style games such as roulette - has increased from 20,000 to almost 35,000.

Other News

Trending Now

Mace theft: Trouble looms as NASS c'ttee summons Omo- Agege, Ndume
But he did not not show up at the close of plenary, even though the Senate had also stated it would not stop him from resuming his seat.

Chrissy Teigen, John Legend welcome second child
Musician Legend also retweeted the post, which fans believe is the confirmation of the arrival of their new addition. In typical Teigen fashion, the star shared on Twitter that two-year-old Luna May's brother had arrived.

FA CUP: Moses eager to sing victory song at wembley
Players also donned resistance harnesses, which allows another player to pull them back as they attempted to run away. Moses sat that one out at St James' Park and has urged a diligent focus from his team-mates with silverware at stake.

Rudy Gobert, Donovan Mitchell, Quin Snyder all up for National Basketball Association awards
Defensive Player of the Year: Anthony Davis (New Orleans Pelicans), Joel Embiid ( Philadelphia 76ers ) and Rudy Gobert (Utah Jazz ).