Fixed Odds Betting Terminals Slashed To £2 Fantastic Move What Do Others Think

[gordiescotland1]

Hi there
I think this is a fantastic move by the government, these machines are highly addictive and ruin lives of those who are compulsive gamblers. What do others think?
http://www.bbc.co.uk/news/business-44148285

[youngmafbog]

I never understood why it is to high.

What I find interesting is the bleating from the likes of BetFred about how many job losses and shops going non profit if it happens. Surely that just underlines the point there is a big problem that needs to be addressed?

[youngmafbog]

*so high

[murraymints]

agree..so many lives tainted

[EDDIE51]

I have not used a Fixed odds betting machine, but I don't think many people would have bet the £100 a spin.I would imagine most only bet £2 a go anyway. So I think it will have little effect.

[donny48]

Will it just take the compulsive gambler longer to get to the same point of being penniless ?

[EDDIE51]

The pubs will be happy.Pub machines have a max stake of £1 for £100 jackpot with a repeat win possible. So they will be a lot nearer the level of a betting shop, plus you can drink and gamble at the same time. I think betting shops will lose out to pubs.

[ToraToraTora]

Ordinarily I hate this sort of nannying but in this case it's necessary. Clearly the punters on these machines are very easily addicted to them. It also doesn't help that they take cards. It just seems less like you are doing your brains than cash. Good move.

[woofgang]

amazed it was ever let be so high in the first place

[ToraToraTora]

no doubt the bookies are squealing!

[youngmafbog]

They are TTT from Sky :
"Culture Secretary Matt Hancock said ministers had decided to "take a stand" despite dire warnings from the betting industry - which reacted to the announcement by saying 21,000 people were expected to lose their jobs as a result."

Sounds like a leaf from the project Fear book.

[ToraToraTora]

apparently one of them said that these machines are 50% of their income. If that's true then they are indeed in need of a cull.

[AKMild]

I remember back in 2005 when I was involved in lending to some of the bookmakers, FOBTs were a key profit and cashflow generator and the bookmakers and their shareholders did very nicely out of them. There was always a worry (on the part of the bookmakers and the lenders) even then that the government would crack down on these (at the time I believe the late Tessa Jowell was the minister responsible) but for whatever reason they were allowed to flourish to the benefit of the bookies and to the detriment of the financially-vulnerable. How it has taken another 13 years to see common sense I don't know. I'm not a fan of the nanny state, but this sort of intervention seems to be common sense to me, even though I think the financially-vulnerable will always find a way to dissipate their cash, whether hard-earned or handed out. The bookmakers may well have to cut their cloth accordingly and I feel sorry for any who lose their jobs as a result.

[Fatalbertfixer]

Excellent new,i feel this is an extremely sensible decision,why it was set so high in the first place was beyond me.

[redman41]

Bookies crying Foul is not on really. They are not going to go bust,they make plenty from over the counter Betting

[Peter Pedant]

must be good
betting shops are squawking
somne redundancies - and I suppose the clerks will have to go out and get proper jobs

[EDDIE51]

Just seen a report on TV saying that Online gambling can have even higher stakes than the Betting terminals and there is no way to ban that. Even if it was banned on UK sites, there will always be online gambling sites based in places that do not care about gambling losses.