There has been controversy surrounding FOBT’s for some time now, today the Government announced the FOBT’s WILL have a maximum stake of just £2, slashing the maximum stake from £100 right down to £2. The move has caused much controversy with some high street bookmakers, fearing they would lose revenue and may have to close down branches with job losses imminent.Various campaigners have repeatedly called for these stakes to be reduced due to the rising amount of gambling related problems in the UK, aiming to protect ‘Vulnerable Gamblers’.William Hill announced that half of their retail revenue came from FOBT’s, claiming that 900 high street branches would have to close with the loss of thousands of jobs.
Keen On The Ruling
Other high street bookmakers were keen for the new ruling, Paddy Power Betfair and Ladbrokes Coral were both pleased that the uncertainty is finally over and the risks to vulnerable players will hopefully decrease.Although the move will see significant losses for high street bookmakers they are confident that the new ruling will see less players getting in to serious financial difficultiesPaddy Power Betfair has reported they have previously campaigned for the reduction in the stake; they are pleased the Secretary Of State has finally made the decision and brought clarity to the situation.