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UK Wants Fixed Odds Betting Terminals Changes
BRIT MPS SEEK F.O.B.T. CHANGES
But are their recommendations realistic...and what are the probable consequences?
The controversial issue of Fixed Odds Betting Terminals in retail betting shops is back in the press today (Thursday) thanks to an unofficial (ie not a Select Committee) group of politicians led by Labour MP Carolyn Harris which published an interim report on their recommendations regarding the machines.
The group, titled FOBT All-Party Parliamentary Group plans to release its full report early in the new year, but for now has claimed that changes to FOBT regulations could help in reducing "associated crime" and problem gambling.
The recommendations specifically suggest that the maximum bet on the machines should be reduced from GBP 100 to just GBP 2, and that the UK government should consider slowing the speed of spins on the machines to reduce the amount wagered in a session.
Shares in gambling groups like William Hill and Ladbrokes Coral, which generate healthy profits from FOBTs, declined around 7 percent on the publication of the recommendations, but a spokesman for William Hill pointed out that the small group of MPs was not an official Select Committee appointed by parliament; had preconceived negative perspectives on FOBTs before their investigations began, and had little credibility in terms of independence.
Industry observers commented that the government had already started work on a second review of FOBTs, whilst Berenberg analyst Roberta Ciaccia said that the GBP 2 stake limit had been suggested before but was not practical. Commenting that the average wager per FOBT session was in the region of GBP 10 to GBP 15, she said that reducing staking limits below that benchmark has the potential to put High Street betting shops out of business with the consequent risk of massive losses in tax receipts for government and tens of thousands of jobs.
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ACR $15 Million OSS Cub3d -
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EHF and Sportradar Extend Partnership -
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Swisslos and Betradar in Deal -
Swisslos offers lotteries, sport bets and instant tickets in the entire territory of German-speaking Switzerland, in Ticino and in the Principality of Liechtenstein. It structures its range of games in an attractive and responsible manner. Swisslos transfers it entire net profit to the mandating cantons and the Principality of Liechtenstein to support public causes.
Americas Cardroom offering mouth-watering value -
It's not every day that an industry-leading poker site offers its customers an opportunity to put the house's money directly into their own pockets, but that's exactly whatís happening at Americas Cardroom.
Coolbet Joins Mpn -
Coolbet, owned by the Estonian company StayCool OU, is a sportsbook driven brand with its own developed platform and sports software. In addition to sports, it offers casino and live casino gaming, and as of this week, poker.
RMG AND SIS EXTEND PARTNERSHIP -
RMG manages the rights of many of the leading British racecourses, while SIS holds the horseracing rights to all Irish racecourses, plus Chelmsford City Racecourse in the UK.
Novomatic and Betradar in Deal -
With ICE just a few days away, NOVOMATIC has announced a partnership with leading sports betting solutions provider Sportradar to develop an innovative line of sports betting products and services.
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