Bookies wait for outcome on fixed-odds stakes

Posted on April 11, 2017 by admin

Bookmakers have bet on unlikely saviours — Brexit, the Treasury, even the Queen — to halt a regulatory raid on earnings at Britain’s largest gambling companies.

Such hopes appear to be long shots as the government prepares to announce the findings of a review into the gambling industry that is threatening to upend the sector.

Among the issues being addressed by the Department for Culture, Media and Sport is the perceived harm caused by fixed-odds betting terminals (FOBTs) — gambling machines within betting shops which offer games like roulette.

Read the full story in the Financial Times

A Westminster talking shop forgetting to listen to the elephant!

Posted on April 6, 2017 by admin

Campaign for Fairer Gambling founder Derek Webb criticises a recent event to discuss gambling policy which failed to address the issue of addiction to fixed odds betting terminals. (more…)

The research, the data, the caveats, the questions

Posted on April 6, 2017 by admin

Derek Webb, founder of the Campaign for Fairer Gambling provides more context to the FOBT fiasco.  (more…)

RSPH joins fight to remove Fixed Odds Betting Terminals from UK high streets

Posted on April 4, 2017 by admin

RSPH has become a Supporter of the All Party Parliamentary Group (APPG) on Fixed Odds Betting Terminals (FOBTs).

The Fixed Odds Betting Terminal APPG was established in 2016 as a forum for discussion and further investigation into the impact of FOBTs in UK communities. In January 2017, it launched the findings of its inquiry into the harm being caused on Britain’s high streets in the report Fixed Odds Betting Terminals – Assessing the Impact.

In March 2015, as part of its Health on the High Street campaign, RSPH called for a reduction in the maximum bet that can be placed in one game on FOBTs from £100 to £2. FOBTs have been described as the ‘crack cocaine’ of gambling, with their capacity to be played rapidly and repeatedly representing a serious addiction issue.

Read the full story on the RSPH website

A pro-FOBT party would be a very nasty party

Posted on March 30, 2017 by admin

On 13th March the Association of British Bookmakers (AAB) sponsored a post on ConservativeHome written by Greg Knight, MD of JenningsBet, entitled, “The Conservative Party is the party of small business. It should not turn its back on us.”

This supposed small business could be experiencing close to £100 million of funds deposited into Fixed Odds Betting Terminals (FOBTs), stakes wagered to the value of £500 million and profits of £20 million generated each year on its betting shop roulette machines.

This supposed small business also has a relationship with The Gaming Platform which is an Isle of Man entity for JenningsBet sports book, JenningsBet casino and JenningsBet poker. Mr Knight explained the taxes his company pays, but did not offer any explanation of the taxes avoided through accessing British gamblers from offshore.

Read the full piece on Conservative Home 

It’s going to get serious – bookies cannot defy gravity forever!

Posted on March 29, 2017 by admin

The Campaign for Fairer Gambling questions the data used by the gambling industry to assess the impact of bookie closures.  (more…)

Fixed-odds betting terminals shouldn’t be on the high street

Posted on March 28, 2017 by admin

“It is no surprise to see UK bookmakers making a vociferous defence of fixed-odds betting terminals (FOBTs). The government’s review of gaming machine stakes is imminent, and it is rightly taking a close look at tighter regulation of these hardcore, high-stakes gambling machines”

You can read the full opinion piece in The Times 

Cost savings hike at Ladbrokes Coral prompts analyst upgrades in spite of £200m pre-tax loss

Posted on March 28, 2017 by admin

Ramped up cost savings at bookmaker Ladbrokes Coral prompted analyst upgrades even though the price of the merger pushed the combined business to a more than £200m pre-tax loss.

Chief executive Jim Mullen said cost savings would now hit £100m a year by 2019 – up from the £65m that the company had previously forecast – because the increased scale of the business would allow it to strike better deals with the likes of technology providers.

Read the full story in The Telegraph

Ladbrokes Coral would be wise to prepare for life without FOBTs

Posted on March 28, 2017 by admin

Ladbrokes Coral was a faller on the stock market as the company unveiled the first set of full year results after the completion of its mega-merger.

With the bookie announcing a thumping loss (more than £200m) thanks to costs incurred as a result of the £2.2bn deal that brought high street staples Ladbrokes and Coral together, perhaps it shouldn’t come as a surprise that investors refused to leave their stables.

Read the full story in The Independent

Govt response to problem gambling has ‘failed spectacularly’

Posted on March 23, 2017 by admin

Gamblers are continuing to lose an increasing amount of money on gaming machines, despite a Government crackdown.

The Government aimed to tackle high spending on addictive Fixed-Odds Betting Terminals (FOBTs) – known as the ‘crack cocaine’ of gambling – which have been closely linked with problem gambling.

The maximum bet that can be placed is £100, and gamblers can stake this every 20 seconds.

Read the full story on the Christian Institute website