With the upcoming general election that has been recently announced by the UK Prime Minister Theresa May, could actually delay the review of the long-commented stakes and prizes of the fixed-odds betting terminals (FOBTs). The local industry has been calling for such a review for some time, since the FOBTs have been considered as a grave danger for players, and especially more vulnerable individuals predisposed to gambling addictions and problem gambling behaviour.
Now, with the general elections scheduled for June 8th, the timings of the gaming-machine stakes review that is to be carried by the UK Government would almost certainly be changed. The Chief Executive Officer of the British Amusement Catering Trade Association (BACTA) John White commented on the eventual delay, saying that the review may be delayed, but the necessity for suitable political action on the matter is still urgent. Mr. White also described the fixed betting terminals as “dangerous, hardcore gaming machines” and said that the allowed £100 stakes threaten individual whose gambling habits put them at risk.
The BACTA’s CEO also explained that the competent regulatory authorities would carry out the campaign in order to prove that greater FOBTs stake reduction is actually necessary. According to Mr. White, such a reduction could be the only way to ensure adequate customer protection. As he shared, the local authorities are also aimed at creating a socially responsible environment for everyone involved in the British gambling industry, both players and operators.
As mentioned above, the FOBTs issues have long been discussed in the UK gambling industry, with the local bookmakers placing their hopes on someone or something to prevent the regulatory review from happening. The British regulators are expected to carry out an in-depth monitoring and assessment to the earnings generated by the largest gambling company in the UK.
Earlier in 2017, the UK Department for Culture, Media & Sport (DCMS) explained that a late spring review of the country’s gambling industry is planned to be carried out. At that time, it became clear that the regulatory raids would be primarily focused on fixed-odds betting terminals in the country, with the review aiming at making a final decision on whether or not the FOBTs maximum stakes must be cut down from £100 to only £2. Further eventual restrictions on gambling adverts on TV are also among the issued addressed to the competent authorities that are to initiate the review.
The process or review and evaluation, however, would take some time. Even without the delay that could be expected as a result of the snap general elections scheduled by Theresa May, the implementation of the review’s findings could take more than a year over which bookmakers would be able to operate under the current rules in terms of FOBTs stakes and taxes.
Up to date, the fixed-odds betting terminals are considered as the largest source of some retail bookmakers’ revenues. Some of the largest bookmakers and gaming companies that currently celebrate significant income generated by the FOBTs are William Hill, Ladbrokes Coral, Betfred and Paddy Power Betfair.
- Author
Daniel Williams
