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PM To Consider FOBT Review

Friday October 25,2013 : BRITISH P.M. TO CONSIDER F.O.B.T. GAMBLING REVIEW
 
Cameron under pressure during Prime Minister's Questions
 
The contentious subject of Fixed Odds Betting Terminals in retail betting shops was raised in Prime Minister's Questions in the UK Commons this week, with Labour MP Tom Watson suggesting that the machines were addictive and should be the subject of a review.
 
According to BBC reports the PM's response was couched in rather vague political language, but in essence he agreed that a "proper look" was necessary. The Beeb quoted PM David Cameron as responding:
 
“I do think it is worth having a proper look at this issue, to see what we can do to make sure that, yes, we have bookmakers that are not over-regulated, but on the other hand, a fair approach and a decent approach that prevents problem gambling.”
 
Claims have proliferated in recent months that FOBTs increase the risk of problem gambling, are overly profitable and are often situated in areas where unemployment and poverty are rampant.
 
The BBC report estimates that the machines, situated in retail betting shops, account for almost half of major bookmakers’ annual profits despite each shop being limited to four terminals.
 
Earlier this year the government's Department of Culture Media and Sport studied the FOBT issue and concluded that there was potential for the machines to increase the risk of problem gambling, although there was insufficient data to indicate what impact on compulsive gambling a reduction in FOBT action would make.
 
The Department recommended that operators provide facilities for players to set minimum wagering  and loss limits at the start of each betting session.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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