paddy-power-betfair-urges-decision-on-fixed-odds-machines

Paddy Power Betfair urges decision on fixed-odds makers
bet9ja.com
1 November 2017

Betting firm Paddy Power Betfair has actually expressed disappointment that a federal government review did not make a decision on fixed-odds wagering terminals.
bet9ja.com
The firm's chief executive Breon Corcoran stated the review, released on Tuesday, failed to provide "clearness".
bet9ja.com
Ministers proposed that bets on the makers be cut from a maximum of ₤ 100 a spin to someplace between ₤ 2 and ₤ 50.

Mr Corcoran has previously required the stakes to be slashed to address prevalent social issues.

Campaigners argue the electronic machines feed betting dependencies and can see players lose large amounts of cash very quickly.
bet9ja.com
Some had actually hoped the federal government would lower the ₤ 100 stake on Tuesday, however ministers chose instead to consult on a series of alternatives.
bit.ly
A great bet? The fixed-odds controversy

Mr Corcoran stated on Wednesday: "We have actually sought long-term certainty and clarity. Yesterday doesn't deliver that, but ideally we will get there at the next stage."
bet9ja.com
The assessment closes on 23 January, but Mr Corcoran said there could be some "drift" before the government makes a final choice.
bet9ja.com
Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in machine gaming in the 3 months to the end of September. Group revenue increased by 9% to ₤ 440m.

He has actually previously composed to the government stating the stakes on fixed-odds devices should be cut to "₤ 10 or less" since the debate has ended up being "so poisonous", according to the Financial Times, external.

The more than ₤ 1.8 bn in revenue for the industry in 2015, assisting to support development for bookmakers.
bit.ly
According to the government's assessment documents, external, cutting the stake to ₤ 50 would cost business ₤ 35m, but 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 gaming.
bit.ly
Fixed-odds maximum bet 'could drop to ₤ 2'

Bookies brace for possible sales hit

31 October 2017