FIXED ODDS BETTING TERMINALS - Government U-Turn Welcomed

LIB DEMS WELCOME U-TURN OVER FIXED ODDS BETTING TERMINALS - (FOBTs)

The Government has been forced into an embarrassing climbdown as ministers announced they would bring forward curbs to tackle highly addictive fixed-odd betting terminals in the face of considerable opposition from MPs and campaigners.

It follows the resignation of the Sports Minister from her ministerial position over the contentious issue two weeks ago, claiming the government had delayed the imposition of stricter rules on the gambling machines by six months until October 2019. More than 70 MPs from across the Commons had tabled changes to the Finance Bill in a bid to reduce the largest sum payable in the machines, known as FOBTs, from £100 to £2 in April 2019 - rather than October. Described as the "crack cocaine" of the gambling world, customers are able to bet up to £100 every 20 seconds on electronic casino games.

Responding to the government announcement that a reduction in maximum stakes on fixed odds betting terminals (FOBTs) will be brought forward to April 2019, Cllr Anita Lower, Local Government Association Liberal Democrat Spokesperson for safer communities said:

"This announcement is great news, on something that has become an issue of growing national concern. A reduction in maximum stakes is something the LGA has long called for to help tackle the harm these machines can cause, and I am pleased to see that the reduction will happen sooner than originally set out in the Budget. It was good to see Liberal Democrat MPs putting pressure on the government to take action on this.

"Maximum stakes on fixed odds betting terminals are significantly out of line with other high street gambling machines.

"Bringing the stake down to £2 will help to reduce problem gambling and its devastating impacts on individuals and communities. It will help prevent vulnerable players from losing £100 in seconds in a single play, which many people cannot afford to lose.

"Research has shown that problem gambling, often linked to FOBTs, creates huge costs for the NHS, councils and the criminal justice system.

"It is right that government has listened to these concerns and we urge it to set in stone this revised date for the new £2 limit as a matter of urgency."

Key Statistics

• tax on Fixed Odds Betting Terminals (FOBTs) is 25 percent.
• FOBTs generate £1.8bn in revenue a year for the betting industry, according to the Gambling Commission, and taxes of £400m for the government.
• William Hill, generates just over half its retail revenues from FOBTs,
• 70%-80% - proportion of FOBT sessions that result in a net loss for the player
• The average (median) loss per session is £5, but 10% of sessions result in a loss of more than £60.
• The average (median) time of a session is 3 minutes 54 seconds, but 10% of sessions last longer than 22 minutes
• Approximately 8.2 billion bets were placed on FOBTs in the five major bookmakers in the 12 months to June 2014. Around 22% were placed on machines in London.

Sources www.Parliament.uk / ALDC - Ed Stephenson - November 21, 2018Ashley Cowburn Indy 14/11/18/ BBC Sport

image • CC BY-SA 3.0 Las Vegas slot machines.jpg. Created: 14 June 2006 Yamaguchi先生

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