Paddy Power Betfair advises choice on fixed-odds devices

1 November 2017

Betting firm Paddy Power Betfair has actually expressed aggravation that a federal government evaluation did not make a choice on fixed-odds wagering terminals.
bet9ja.com
The firm's chief executive Breon Corcoran said the evaluation, launched on Tuesday, stopped working to provide "clarity".
bet9ja.com
Ministers proposed that bets on the devices be cut from a maximum of ₤ 100 a spin to someplace between ₤ 2 and ₤ 50.

Mr Corcoran has previously called for the stakes to be slashed to deal with widespread social concerns.

Campaigners argue the electronic devices feed gambling dependencies and can see players lose large amounts of cash really quickly.
bet9ja.com
Some had actually hoped the would reduce the ₤ 100 stake on Tuesday, however ministers decided rather to consult on a variety of choices.
bet9ja.com
A good bet? The fixed-odds debate

Mr Corcoran stated on Wednesday: "We have looked for long-term certainty and clearness. Yesterday doesn't provide that, but hopefully we will arrive at the next stage."

The consultation closes on 23 January, but Mr Corcoran said there might be some "drift" before the federal government makes a last choice.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in device video gaming in the 3 months to the end of September. Group earnings rose by 9% to ₤ 440m.

He has formerly composed to the federal government saying the stakes on fixed-odds machines ought to be cut to "₤ 10 or less" since the argument has actually ended up being "so harmful", according to the Financial Times, external.

The devices produced more than ₤ 1.8 bn in revenue for the market last year, helping to support development for bookmakers.

According to the federal government's consultation files, external, cutting the stake to ₤ 50 would cost business ₤ 35m, but slashing it to ₤ 2 would see ₤ 639m lost over the next ten years.
bet9ja.com
The Association of British Bookmakers said on Tuesday the onus was on the gambling market to help cut issue betting.
bit.ly
Fixed-odds optimum bet 'might drop to ₤ 2'
bet9ja.com
Bookies brace for possible sales hit

31 October 2017