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The reduction in the maximum stake on fixed-odds betting terminals (FOBTs) has seen most UK based bookmakers battening down the hatches and trying to plan for the expected losses that will come as a result of the change.However, Ireland’s second largest bookmaker, Boylesports, is bucking the trend and is rumoured to be preparing for its introduction to UK high streets.
Peak operating capacity
John Boyle, former Chief Executive and Founder of Boylesports has previously stated that the bookmaker is at “peak operating capacity” in Ireland.This attitude was apparent in 2016 when Boylesports launched a £100 million bid for the betting shops that would come available as a result of the Ladbrokes-Coral merger, which saw the Competition & Markets Authority (CMA) force the sale of 350 betting shops.Unfortunately, Boylesports was unsuccessful in this big, with Betfred and Stan James, two staples of the UK betting market, winning the takeover battle for the shops.Boyle was replaced in his role by Conor Gray, the now CEO of the company, and Boylesports is now looking to acquire 100 betting shops in the North of the UK, in an attempt to establish the beginnings of a high-street presence.
Tough year
While many experts are predicting that this will be a difficult year for UK based bookmakers after the FOBT ruling, Boylesports seems unaffected by this concern.Instead, while the rest of the UK takes a downturn, Boylesports is hoping that the introduction of a new, yet established name to the UK scene will be enough to ensure that they enjoy success, even while those around them may be floundering.Having not been a presence in the market before the FOBT change, Boylesports has the opportunity to start from the ground up with the new regulations, and it might just work!