Scottish players lost an amount of over £1 billion on highly-controversial fixed-odds betting terminals (FOBTs) in a period of less than ten years. The data emerged in the light of the British Prime Minister Teresa May’s promise to make sure the maximum stake currently allowed at the machines is reduced.
PM May has not revealed to what amount the maximum stake of the machines would be cut, but the country’s gambling regulatory body and some experts warn that the amount could be slashed to £2. Currently, players are able to place a maximum amount of £100 every twenty seconds on various games offered at the fixed-odds betting terminals.
The massive maximum stake which is currently allowed at FOBTs has caused a lot of concern across the industry not only because of the massive amount that could be lost within an hour, but also due to the fact that the machines are considered highly addictive. Back in October 2017, UK ministers revealed that the maximum stake allowed at fixed-odds betting terminals are to be reduced at least in half.
According to industry data provided by the Campaign for Fairer Gambling, gamblers in Scotland lost approximately £1.1 billion in the period from 2008 to 2016. Reportedly, gamblers in Glasgow generated the biggest loss of £236 million, while the losses in Edinburgh amounted to £119 million. North Lanarkshire players lost about £90 million.
FOBTs Maximum Stake to Be Slashed
The spokesman of the Campaign for Fairer Gambling Matt Zarb-Cousin commented that the decision to allow fixed-odds betting terminals offer high-speed games with such large stakes, turned out to be a mistake which led to gambling-related harm inflicted on players, their families and the entire communities.
A couple of week ago, the UK Government revealed that the reduction of the FOBTs’ maximum stake would make sure that “safe and sustainable industry” is maintained, in order for children and more vulnerable individuals are well-protected. According to media reports, the maximum stake could be even slashed to as much as £2 – a possible decision which local bookmakers criticised, saying that such a reduction would make them suffer a massive blow.
The Association of British Bookmakers has revealed that the amount spent on fixed-odds betting terminals is smaller that spending on other forms of gambling in the UK. A spokesman of the ABB shared that spending on the machines accounted to only 13% of the money spent on gambling across the territory of the country. In addition, he added that money spent in local betting shops is invested back into the local and national economy, with the money being returned to players through salaries, taxation, rates, etc.
According to Mr. Zarb-Cousing, however, gambling operators were trying to mislead both the Government and the wider public about the possible impact of such a reduction on their market performance. However, the spokesman of the Campaign for Fairer Gambling insisted that slashing the maximum FOBTs stake to £2 would be the most effective mechanism that competent authorities could use in order to protect the players efficiently.
- Author
Daniel Williams
