The Campaign for Fairer Gambling questions the data used by the gambling industry to assess the impact of bookie closures. (more…)
“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
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 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
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
The amount of money that UK players are spending on fixed-odds betting terminals (FOBTs) has considerably increased in spite of all the measures imposed on the industry and operators by the country’s Government.
The fixed-odds betting machines have recently provoked fierce debates and have made competent authorities express their concern related to the eventual negative consequences for customers. The FOBTs provide players with the chance to play various casino games and place a stake of up to £100 every 20 seconds. Both the Government and the regulatory authorities have taken some measures in order to reduce the harm inflicted to players. As part of this crackdown, they officially announced their intentions to minimise the maximum amount that could be placed as a bet on the machines at a time. Despite these measures, the amount lost on FOBTs has rose to £126 million over the past twelve months.
Read the full story in Casino Guardian
The UK government is about to begin consultation on changes to gaming machine stakes and prizes, prompting trade association BACTA to appeal to its members to press their local members of parliament for support.
Chief among its aims is to have the stake reduced on fixed-odds betting terminals, which are commonly found in bookmakers’ shops.
Read the full story on Intergame Online
Seven UK gambling customers lost over £10,000 in a single day on fixed-odds betting terminals (FOBTs) over a researched 10-month period, problem gambling support charity GambleAware said in a recent filing to the Government.
UK MPs are currently conducting a traditional triennial review of the country’s gambling industry. The latest review was announced as one that would be particularly focused on the controversial gaming devices, located in betting shops across the UK.
Read the full story in Casino News Daily
Seven gamblers lost more than £10,000 in a day while using controversial fixed-odds betting terminals (FOBTs) during a 10-month period, it has emerged.
The charity analysed data from betting sessions, including cases where punters bet the maximum allowable amount of £100, which can be staked every 20 seconds under existing regulations.
Read the full story in The Guardian
Betting machines can swallow a whole family’s daily income in less than a quarter of an hour, an ECHO investigation can reveal.
Fixed-odds machines or FOBTs have been dubbed the “crack cocaine” of gambling, with critics alarmed by how swiftly they can hoover up cash and fears they could be addictive.