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

Paddy Power Betfair advises decision on fixed-odds devices

1 November 2017

Betting firm Paddy Power Betfair has expressed disappointment that a government evaluation did not decide on fixed-odds betting terminals.

The company's president Breon Corcoran said the review, released on Tuesday, failed to bet9ja's welcome offer "clearness".

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

Mr Corcoran has formerly required the stakes to be slashed to deal with widespread social concerns.

Campaigners argue the electronic makers feed gambling addictions and can see players lose big amounts of cash very rapidly.
bet9ja.com
Some had hoped the federal government would decrease the ₤ 100 stake on Tuesday, but ministers chose rather to consult on a series of choices.
bet9ja.com
An excellent bet? The fixed-odds debate
bet9ja.com
Mr Corcoran stated on Wednesday: "We have looked for long-lasting certainty and clearness. Yesterday does not deliver that, however hopefully we will get there at the next phase."
bet9ja.com
The consultation closes on 23 January, however Mr Corcoran stated there might be some "drift" before the yohaig code federal government makes a decision.
bet9ja.com
Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in device video gaming in the yohaig code three months to the end of September. Group earnings increased by 9% to ₤ 440m.

He has actually previously written to the federal government stating the stakes on fixed-odds devices must be cut to "₤ 10 or less" because the argument has actually become "so harmful", according to the Financial Times, external.
bet9ja.com
The machines produced more than ₤ 1.8 bn in revenue for the industry in 2015, assisting to support growth for bookmakers.
bet9ja.com
According to the federal government's consultation 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.
bit.ly
The Association of British Bookmakers stated on Tuesday the onus was on the to assist cut issue gambling.

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

Bookies brace for possible sales hit

31 October 2017