paddy-power-betfair-urges-decision-on-fixed-odds-machines

Paddy Power Betfair urges decision on fixed-odds makers

1 November 2017

Betting company Paddy Power Betfair has revealed disappointment that a federal government evaluation did not make a decision on fixed-odds betting terminals.

The firm's president Breon Corcoran said the yohaig code review, launched on Tuesday, stopped working to provide "clearness".
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Ministers proposed that bets on the makers be cut from a maximum of ₤ 100 a spin to someplace in between ₤ 2 and ₤ 50.
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Mr Corcoran has actually previously called for the stakes to be slashed to address widespread social issues.
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Campaigners argue the electronic makers feed betting addictions and can see players lose large quantities of cash very quickly.

Some had hoped the government would decrease the ₤ 100 stake on Tuesday, however ministers decided rather to speak with on a range of alternatives.
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A good bet? The controversy
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Mr Corcoran said on Wednesday: "We have sought long-lasting certainty and clarity. Yesterday doesn't deliver that, but ideally we will get there at the next phase."
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The assessment closes on 23 January, but Mr Corcoran said there could be some "drift" before the government makes a last decision.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in machine gaming in the three months to the end of September. Group income rose by 9% to ₤ 440m.
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He has previously written to the federal government stating the stakes on fixed-odds devices must be cut to "₤ 10 or less" since the debate has ended up being "so harmful", according to the Financial Times, external.
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The devices generated more than ₤ 1.8 bn in income for the yohaig code industry last year, helping to support development for bookies.

According to the federal government's assessment documents, external, cutting the stake to ₤ 50 would cost business ₤ 35m, but slashing it to ₤ 2 would see ₤ 639m lost over the next ten years.
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The Association of British Bookmakers stated on Tuesday the onus was on the gambling industry to help cut problem gaming.

Fixed-odds maximum bet 'might drop to ₤ 2'

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31 October 2017