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The Gambling Commission has recommended the maximum stake allowed on FOBTs to be cut to £30 or less.
The United Kingdom Gambling Commission (UKGC) has given the government a margin to cut stakes on fixed odd betting terminals (FOBTs). While some parties were asking for the maximum stake to be set at £2, the UKGC said that the number should be reduced from £100 to £30 or less.
The UKGC’s input is one of the most important submissions to a review by the Department for Digital, Culture, Media and Sport, which has announced that the maximum bet on FOBTs will be cut from £100 to a range between £2 and £50. The commission also recommended that the stake on gambling machines like fruit machines should be limited to two pounds.
Neil McArthur, chief executive of the Gambling Commission, said: “In our judgment, a stake cut for fixed odds betting terminals alone doesn’t go far enough to protect vulnerable people. That is why we have recommended a stake cut plus a comprehensive package of other measures to protect consumers. We have proposed actions that will tackle both the risk of harm and provide solutions that are sustainable in the longer term.”
Moreover, Tim Miller, executive director of the Gambling Commission, said: “We’re aiming to reduce the risks that people face from these forms of gambling. A stake cut is an important part of our comprehensive package that is recommended to government that will tackle the risks consumers face, but our research has shown that a stake cut alone will not do enough. If the government want to go lower than a £30 maximum stake, that will be perfectly consistent with our advice as we are recommending a maximum stake of £30 or less.”
After the announcement this morning, share prices in British shops increased more than 4 per cent for William Hill to 334.5p, while Ladbrokes Coral shares were up by 3.28 per cent to 176.05p.
Source: European Gaming Industry News