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

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Paddy Power Betfair prompts choice on fixed-odds devices
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1 November 2017
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Betting firm Paddy Power Betfair has actually expressed disappointment that a federal government review did not decide on fixed-odds betting terminals.
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the yohaig code firm's primary executive Breon Corcoran stated the evaluation, released on Tuesday, stopped working to supply "clarity".

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

Mr Corcoran has actually previously called for the stakes to be slashed to address prevalent social concerns.

Campaigners argue the electronic betting addictions and can see gamers lose big amounts of cash very quickly.
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Some had actually hoped the government would reduce the ₤ 100 stake on Tuesday, however ministers chose instead to seek advice from on a range of choices.

A good bet? The fixed-odds debate

Mr Corcoran said on Wednesday: "We have sought long-lasting certainty and clarity. Yesterday does not deliver that, but ideally we will arrive at the next phase."

The consultation closes on 23 January, however Mr Corcoran said there could be some "drift" before the government makes a decision.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in device gaming in the three months to the end of September. Group profits rose by 9% to ₤ 440m.
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He has formerly composed to the federal government stating the stakes on fixed-odds machines should be cut to "₤ 10 or less" since the dispute has actually ended up being "so hazardous", according to the Financial Times, external.
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The devices generated more than ₤ 1.8 bn in revenue for the market last year, assisting to support development for bookmakers.
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According to the government's assessment files, external, cutting the stake to ₤ 50 would cost business ₤ 35m, but slashing it to ₤ 2 would see ₤ 639m lost over the next 10 years.
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The Association of British Bookmakers stated on Tuesday the yohaig code onus was on the gaming industry to help cut problem gaming.

Fixed-odds optimum bet 'could drop to ₤ 2'

Bookies brace for possible sales struck

31 October 2017