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

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Paddy Power Betfair advises decision on fixed-odds machines
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1 November 2017
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Betting firm Paddy Power Betfair has actually revealed disappointment that a government evaluation did not decide on fixed-odds betting terminals.

The company's president Breon Corcoran stated the evaluation, released on Tuesday, failed to provide "clarity".
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Ministers proposed that bets on the machines be cut from an optimum of ₤ 100 a spin to somewhere between ₤ 2 and ₤ 50.
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Mr Corcoran has actually formerly called for the stakes to be slashed to attend to widespread social issues.

Campaigners argue the electronic machines feed gambling addictions and can see gamers lose large quantities of money extremely quickly.

Some had hoped the would lower the ₤ 100 stake on Tuesday, but ministers chose instead to speak with on a variety of choices.

A good bet? The fixed-odds debate
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Mr Corcoran said on Wednesday: "We have actually looked for long-term certainty and clarity. Yesterday does not provide that, but hopefully we will get there at the next stage."

The assessment closes on 23 January, but Mr Corcoran stated there might be some "drift" before the government makes a last choice.
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Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in maker gaming in the three months to the end of September. Group revenue rose by 9% to ₤ 440m.
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He has previously composed to the government stating the stakes on fixed-odds makers ought to 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 created more than ₤ 1.8 bn in revenue for the industry last year, helping to support development for bookmakers.

According to the government's assessment files, external, cutting the stake to ₤ 50 would cost business ₤ 35m, however slashing it to ₤ 2 would see ₤ 639m lost over the next ten years.

The Association of British Bookmakers said on Tuesday the yohaig code onus was on the gaming market to help cut problem betting.

Fixed-odds maximum bet 'might drop to ₤ 2'

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31 October 2017
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