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

bet9ja.com
Paddy Power Betfair prompts decision on fixed-odds makers
bet9ja.com
1 November 2017
bet9ja.com
Betting company Paddy Power Betfair has revealed frustration that a federal government review did not make a decision on fixed-odds betting terminals.

The firm's primary executive Breon Corcoran said the review, launched on Tuesday, stopped working to provide "clarity".

Ministers proposed that bets on the devices be cut from an optimum of ₤ 100 a spin to somewhere in between ₤ 2 and ₤ 50.

Mr Corcoran has actually previously called for the stakes to be slashed to attend to prevalent social concerns.

Campaigners argue the electronic machines feed betting dependencies and can see players lose big amounts of cash extremely rapidly.

Some had actually hoped the government would lower the ₤ 100 stake on Tuesday, but ministers chose instead to seek advice from on a variety of alternatives.

An excellent bet? The fixed-odds debate

Mr Corcoran said on Wednesday: "We have actually looked for long-term certainty and clearness. Yesterday does not deliver that, however hopefully we will get there at the next stage."

The assessment closes on 23 January, however Mr Corcoran said there could be some "drift" before the government makes a last decision.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in maker gaming in the three months to the end of September. Group rose by 9% to ₤ 440m.
bet9ja.com
He has previously written to the federal government saying the stakes on fixed-odds machines should be cut to "₤ 10 or less" because the debate has actually become "so poisonous", according to the Financial Times, external.

The makers produced more than ₤ 1.8 bn in income for the market in 2015, helping to support growth for bookies.
bet9ja.com
According to the federal government's consultation 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 yohaig code Association of British Bookmakers stated on Tuesday the onus was on the gambling industry to assist cut issue gaming.
bit.ly
Fixed-odds maximum bet 'might drop to ₤ 2'
bit.ly
Bookies brace for possible sales struck

31 October 2017
bet9ja.com