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NEWS 8 December 2016

MPs speak out again about FOBTs; sport-betting operator shares slump

By Alex Hammond
The call has come once again for FOBTs to have their maximum stakes dramatically lowered, after a committee of lawmakers highlighted the terminals as being a problem in the gambling industry.

MPs are urging for the maximum stake that can be placed on FOBT terminals to be reduced from £100 to £2, and for the time between spins to be increased. Both alterations would drastically reduce the amount of money that could be wagered in a single session.

Charities, including the Campaign for Fairer Gambling, have long-called for regulatory changes to be made concerning the betting terminals.

The lawmaker’s report has only revealed interim findings, with the official document expected to be published in January, but this has not prevented the effect on retail sports-betting operators’ share prices.

William Hill shares fell 8.3 percent and Ladbrokes Coral fell 7.8 percent in early trading this morning, a clear indication in the significance revenue from FOBTs has on the industry.

RELATED TAGS: Land-Based | Legal & Regulatory | Sports Betting
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