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Unemployed Gamblers Spend 5.6 Billon On FOTBS

January 7, 2013 : GBP 5.6 BILLION STAKED ON FOBTs BY UNEMPLOYED PUNTERS
 
Labour Party politicians claim poorest residential areas were targeted
 
British Labour Party politicians were up in arms this weekend over Fixed Odds Betting Terminals in High Street bookie shops, claiming that operators are targeting the poor and unemployed.
 
Always ready to embark on an anti-gambling story, the Daily Mail reported that GBP 5.6 billion was wagered on the machines by gamblers from areas with high unemployment.
 
Use of FOBTs is restricted to four per betting shop.
 
The FOBT machine population has grown from 16,380 machines in 2007 to 32,000 last year, the newspaper reported.
 
The casino-style terminals allow players to stake up to GBP 100 a time on a 20-second spin of a wheel for games such as virtual roulette.
 
The Mail claims that recent statistics show that punters from parts of Britain that have the highest levels of unemployment bet four times as much on the machines as those in more well-to-do areas.
 
In the 50 parliamentary constituencies with the highest levels of unemployment punters visited 1,251 betting shops and put GBP 5.6 billion into 4,454 high stakes machines last year, the newspaper claims.
 
By comparison, the 50 constituencies with the lowest levels of joblessness saw GBP 1.4 billion gambled at 287 betting shops on 1,045 machines.
 
Labour MP Dianne Abbott (Hackney North and Stoke Newington constituency in North-East London) accused gambling companies of targeting poorer areas, whilst fellow Labour politician Lucy Powell (Manchester Central) said: "According to these figures, there’s more being spent on gambling in my constituency than by the council on services."
 
The figures used by the Mail were produced by the problem betting campaign group Fairer Gambling from an analysis of industry data.
 
The Daily Mail reports that according to published statistics, William Hill plc netted an estimated GBP 416 million a year profit from fixed-odds betting machines, while Ladbrokes made around GBP 359 million, Coral GBP 290 million and Paddy Power GBP 41 million.
 
Refuting the claims, the Association of British Bookmakers said: "The idea that bookmakers target vulnerable communities is both false and offensive.
 
"Like any other retailer, we locate our shops where footfall is high and rents are affordable.
 
"These factors vary, which explains why there can be different numbers of shops in different parts of the country."

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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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