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Paddy Power Betfair prompts choice on fixed-odds devices
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1 November 2017
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Betting company Paddy Power Betfair has expressed disappointment that a government evaluation did not make a choice on fixed-odds betting terminals.
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The company's chief executive Breon Corcoran said the evaluation, launched on Tuesday, stopped working to provide "clarity".

Ministers proposed that bets on the makers be cut from a maximum of ₤ 100 a spin to somewhere between ₤ 2 and ₤ 50.

Mr Corcoran has actually formerly called for the stakes to be slashed to attend to prevalent social issues.
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Campaigners argue the electronic gambling addictions and can see gamers lose big quantities of cash really rapidly.

Some had actually hoped the government would reduce the ₤ 100 stake on Tuesday, however ministers chose rather to seek advice from on a variety of options.

An excellent bet? The fixed-odds controversy

Mr Corcoran stated on Wednesday: "We have looked for long-term certainty and clarity. Yesterday does not deliver that, but hopefully we will arrive at the next phase."

The consultation closes on 23 January, but Mr Corcoran said there could be some "drift" before the federal government makes a last choice.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in maker gaming in the 3 months to the end of September. Group income increased by 9% to ₤ 440m.
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He has actually previously composed to the federal government stating the stakes on fixed-odds machines ought to be cut to "₤ 10 or less" since the dispute has become "so harmful", according to the Financial Times, external.
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The devices produced more than ₤ 1.8 bn in profits for the market in 2015, assisting to support growth for bookies.

According to the federal government's assessment files, external, cutting the stake to ₤ 50 would cost business ₤ 35m, but slashing it to ₤ 2 would see ₤ 639m lost over the next 10 years.
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The Association of British Bookmakers said on Tuesday the onus was on the gambling industry to assist cut issue gambling.

Fixed-odds maximum bet 'could drop to ₤ 2'
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Bookies brace for possible sales struck

31 October 2017
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