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IS UK Government Going For a More Reasonable FOBT Approach
Wednesday April 30,2014 : U.K. GOVERNMENT CONFIRMS MORE REASONABLE F.O.B.T. APPROACH
But another leading bookmaker cautions that shop closures and job losses may be inevitable.
The British government confirmed Wednesday that it is taking a more reasonable approach to ameliorating the threat of problem gambling that Fixed Odds Betting Terminals and the location of betting shops allegedly represents.
FOBTs account for some GBP 1.5 billion in annual revenues for Britain's major betting firms, and rather than insisting on lower betting limits, the government has decided that punters who want to spend more than GBP 50) on the machines, which are available in most betting shops, will be required to pay over the counter before they play, rather than being able to feed the money in directly.
That will entail interaction with betting shop staff as a moderating influence. Large companies will have to offer customers accounts so that activity can be tracked and monitored via statements.
With local councils now having the power to refuse betting shop applications in their areas, analysts expect that already established companies like William Hill, Ladbrokes, Coral and Betfred will gain an advantage over competitors trying to open shops the same area.
The more reasonable government requirements resulted in rising share prices for gambling firms Wednesday, but not everyone was happy about the consequences of more restrictive regulations.
Paddy Power was critical of the government curbs on betting shops, which will possibly impact the Irish betting group's plans for expansion in the UK.
Andy McCue, head of retail for UK and Ireland at Paddy Power told the Telegraph newspaper:
“These proposed planning reforms are wholly unnecessary and will reduce competition in a sector with betting shop numbers already in decline: so far in 2014, 150 betting shop closures have been announced, with many more expected.
“In a market where the Big 4 incumbents control 90 percent and openly welcome planning restrictions, challenger brands like Paddy Power will be prevented from offering choice and value to consumers.
“The proposed planning changes are a fudge not a fix and pre-empt an evidence-based approach to addressing concerns about fixed odds betting terminals.”
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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.
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.
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.
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