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Paddy Power Betfair urges choice on fixed-odds devices
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1 November 2017
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Betting firm Paddy Power Betfair has actually expressed disappointment that a government review did not decide on fixed-odds wagering terminals.
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The company's president Breon Corcoran stated the review, launched on Tuesday, failed to bet9ja's welcome offer "clearness".
Ministers proposed that bets on the makers be cut from a maximum of ₤ 100 a spin to somewhere in between ₤ 2 and ₤ 50.
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Mr Corcoran has previously called for the stakes to be slashed to resolve prevalent social issues.
Campaigners argue the electronic machines feed gambling dependencies and can see gamers lose big amounts of cash very quickly.
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Some had hoped the government would lower the ₤ 100 stake on Tuesday, but ministers chose instead to seek advice from on a series of choices.
A good bet? The fixed-odds debate
Mr Corcoran stated on Wednesday: "We have sought long-lasting certainty and clarity. Yesterday does not deliver that, however hopefully we will get there at the next phase."
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The assessment closes on 23 January, but Mr Corcoran stated there could be some "drift" before the federal government makes a final decision.
Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in in the three months to the end of September. Group revenue increased by 9% to ₤ 440m.
He has actually formerly written to the government saying the stakes on fixed-odds machines must be cut to "₤ 10 or less" because the yohaig code dispute has ended up being "so toxic", according to the Financial Times, external.
The makers produced more than ₤ 1.8 bn in earnings for the industry in 2015, helping to support development for bookies.
According to the federal government's consultation documents, external, cutting the stake to ₤ 50 would cost business ₤ 35m, however slashing it to ₤ 2 would see ₤ 639m lost over the next ten years.
The Association of British Bookmakers said on Tuesday the onus was on the betting industry to help cut problem betting.
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Fixed-odds optimum bet 'might drop to ₤ 2'
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Bookies brace for possible sales hit
31 October 2017
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Paddy Power Betfair Urges Decision On Fixed-odds Machines
carmelclegg976 edited this page 2025-10-18 21:42:06 +00:00