Gambling’s ‘crack cocaine’ is devastating lives and not doing much for the economy either

Posted on May 17, 2017 by admin

Since 2008, UK gamblers have squandered £11.4 billion playing games such as poker and roulette on fixed-odds betting terminals (FOBTs). These sophisticated gaming machines, often referred to as the “crack cocaine” of gambling, are to be found in high street bookies and casinos across Britain, allowing people to bet up to £100 every 20 seconds.

Not only is this helping to create a huge swell in problem gambling, it is also affecting the economy, because this spend has little ripple effect, flowing directly into relatively few pockets without generating a significant number of jobs.

Read the full story in The Conversation.

A stake in it for everyone; why Conservatives should support regulation of Fixed Odds Betting Terminals

Posted on May 15, 2017 by admin

FOBTs or B2 machines are highly addictive, one way we know this, according to research conducted by the Campaign for Fairer Gambling, is that FOBT users are much more likely to be ‘problem gamblers’, statistics from the gambling helpline showed that in one year (2011/2012) 28% of calls to the helpline were from gamblers who were experiencing problems owing to their use of FOBTs. In other words they ‘were much more likely to call the helpline than people involved in other forms of gambling’. We should be concerned because players of these casino-style games are at a high risk of financial ruin, this is not surprising considering that there are more than twice the number of betting shops in the poorest boroughs compared with the most affluent.

Read the full story on the ResPublica website.

Scottish punters lose £150million a year on a high stakes slot machines

Posted on May 14, 2017 by admin

Scottish punters are losing more than £150million a year on controversial high stakes slot machines, according to new research.

The study also suggests that spending on fixed odds betting terminals (FOBTs) has cost the Scottish economy more than 18,000 jobs over the past eight years.

Read the full story in The Daily Record.

New Research Shows Scots Spent £3.7 Billion on FOBTs in 2016

Posted on May 14, 2017 by admin

Scottish gambling customers wagered £3.7 billion on fixed-odds betting terminals in 2015-16, newly released research shows. There were 4,000 B2 gaming machines in betting shops around Scotland during the reviewed period.

According to the new report, the amount of £170 million was lost by Scots. For several years now, FOBTs have been the subject of heavy criticism from influential lawmakers and anti-gambling campaigners, mainly due to the fact that the controversial machines allow players to bet up to £100 every 20 seconds.

Read the full story in Casino News Daily.

BBC Radio 5 Live – May 11th 2017

Posted on May 11, 2017 by admin

Research has shown that people in the UK have gambled away £11 billion on fixed odds betting terminals since 2008. The machines allow customers to bet up to £100 every 20 seconds on games like roulette, and today’s research shows that £8,000 has been lost on average by each player.

Lowering the maximum bet on FOBTs to £2 is currently being backed by Labour in their election campaign and Campaign Consultant, Matt Zarb-Cousin, speaks to BBC Radio 5 Live about FOBT stakes and the Stop the FOBTs campaign.

Listen again at 1 hour 9 minutes.

Fixed-odds betting terminals take billions from gamblers

Posted on May 11, 2017 by admin

British gamblers have lost a total of £11bn on fixed-odds betting terminals (FOBTs) since 2008 – an average of £8,000 per person, according to new figures.

However, adds research consultancy Landman Economics, a core of 300,000 “problem gamblers” account for around 40 per cent of total, losing almost £15,000 each.

Read the full story in The Week.

High-stakes betting terminals “cost gambers £11billion in nine years”

Posted on May 11, 2017 by admin

Gamblers have lost £11.4billion on fixed odds ­betting terminals in just nine years, say economists.

The £100-a-spin casino game machines in betting shops have also cost the UK economy 186,000 jobs, research reveals.

An estimated £45.5billion has been staked on FOBTs, linked to addiction and anti-social behaviour, since the 2008 Gambling Act clarified their legal status.

Read the full story in The Daily Mirror.

Punters have lost over £11billion on fixed-odds gambling machines since 2008 – costing the economy 200,000 jobs

Posted on May 11, 2017 by admin

Gamblers have lost more than £11billion on in-store gaming machines in less than ten years, shocking new figures reveal.

Since 2008, fixed-odds betting terminals (FOBTs) are responsible for the loss of around 200,000 jobs in the UK, the report by Landman Economics shows, heaping the pressure on politicians to act quickly.

A proposed review of FOBTs was scrapped when the General Election was called, but Labour has pledged to cap the maximum stake at £2, with senior Tories believing Theresa May needs to follow suit.

Read the full story in the Daily Mail.

UK consumers lose over £11bn on FOBTs since 2008

Posted on May 11, 2017 by admin

Punters in the UK have lost more than £11 billion (€13.1 billion/$14.2 billion) on fixed odds betting terminals (FOBTs) since 2008, according to new research by Landman Economics.

The latest study found that approximately £50 billion has been wagered on the machines since 2008, which means that with the £11 billion deficit, the average UK punter has lost around £8,000.

Read the full story in iGaming Business.

Punters lose billions in fixed‑odds betting frenzy

Posted on May 11, 2017 by admin

Britons have lost £11 billion on fixed-odds betting terminals since 2008 in a gambling frenzy that has cost the economy almost 200,000 jobs, according to research.

The figures will heap pressure on Theresa May to outline Tory plans to clamp down on the machines. Labour has promised to cap stakes at £2 and a Conservative think tank has urged the prime minister to do the same.

A government review into the machines, known as FOBTs, was shelved once the election was called. The machines allow customers to bet up to £100 every 20 seconds on electronic casino games such as roulette. Campaigners say that the quick-fire play and high stakes encourage players to chase losses and the machines contribute to poverty, crime and family breakdown.

Read more in The Times