paddy-power-betfair-urges-decision-on-fixed-odds-machines

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Paddy Power Betfair advises choice on fixed-odds devices
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1 November 2017

Betting company Paddy Power Betfair has actually expressed disappointment that a federal government review did not make a decision on fixed-odds betting terminals.
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The company's primary executive Breon Corcoran stated the evaluation, launched on Tuesday, failed to provide "clearness".

Ministers proposed that bets on the machines be cut from a maximum of ₤ 100 a spin to somewhere between ₤ 2 and ₤ 50.

Mr Corcoran has actually previously called for the stakes to be slashed to deal with extensive social issues.

Campaigners argue the electronic devices feed gambling addictions and can see gamers lose big quantities of money extremely rapidly.
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Some had hoped the government would lower the ₤ 100 stake on Tuesday, however ministers decided instead to consult on a variety of choices.

An excellent bet? The fixed-odds debate
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Mr Corcoran stated on Wednesday: "We have actually sought long-term certainty and clarity. Yesterday does not provide that, however ideally we will get there at the next stage."

The consultation closes on 23 January, however Mr Corcoran stated there might be some "drift" before the federal government makes a final decision.
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Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in machine gaming in the 3 months to the yohaig code end of September. Group earnings rose by 9% to ₤ 440m.

He has actually previously composed to the government stating the stakes on fixed-odds machines should be cut to "₤ 10 or less" because the dispute has actually become "so toxic", according to the Financial Times, external.
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The machines generated more than ₤ 1.8 bn in income for the market last year, assisting to support development for bookmakers.
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According to the federal government's consultation documents, external, cutting the stake to ₤ 50 would cost companies ₤ 35m, but slashing it to ₤ 2 would see ₤ 639m lost over the next ten years.
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The Association of British Bookmakers stated on Tuesday the onus was on the betting industry to assist cut issue betting.
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Fixed-odds optimum bet to ₤ 2'

Bookies brace for possible sales hit

31 October 2017