William Hill cautions prime minister over FOBTs guideline modification

15 May 2018

ByDominic O'Connell Today Programme Business Correspondent

The chairman of bookie William Hill has actually warned the prime minister his firm risks being by a foreign rival if it is weakened by new wagering rules.

In a letter to Theresa May, Roger Devlin said changes to the quantity that can be wagered on High Street gambling makers might hit jobs and earnings.
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The federal government is expected to announce imminently a final decision on its review fixed-odds wagering terminals.

He proposed tougher rules on adverts and a levy to assist issue gamblers.

Currently, fixed-odds wagering terminals (FOBTs) enable players to stake up to ₤ 100 every 20 seconds.
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An evaluation's interim findings recommended cutting the optimal stakes to ₤ 30, however there have actually been reports that the yohaig code amount could be cut to just ₤ 2.

Anti-gambling campaigners, who have called the fixed-odds devices the "crack cocaine" of gaming, support the move.
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Bookies, however, have alerted that such a cut would lead to the closure of countless outlets, a big reduction in tax paid to the Treasury, and would have knock-on impacts on the horse racing market.

'Catastrophic'
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Bookmakers support horse racing through a market levy and offering cash prize.

Mr Devlin's letter, initially reported by Sky News and seen by the BBC, stated UK gambling was "incredibly well controlled".

He composed: "Sadly, I fear that your federal government is about to decide that is unnecessary and lacking in evidence - a decision that will also be catastrophic for a retail betting industry employing over 40,000 people."

"Consolidation within our sector continues and I would also not want to see the effect of a disproportionate ... result being a consider the name of William Hill being contributed to the list of business now in foreign ownership," he stated.

Mr Devlin stated William Hill supported a ban on gambling advertising on television before the watershed, and a levy on the industry to pay for education and treatment of issue bettors.

Mr Devlin, who was selected chairman of the yohaig code bookie previously this promotion code year, is also chairman of the housebuilder Persimmon, which has actually been racked with controversy over a generous executive pay plan.
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Shares in William Hill have been hit hard by fears that fixed-odds stakes would be cut, falling greatly last month on reports that the chancellor, Philip Hammond, would not oppose the relocation.

On Monday, however. William Hill shares leapt after the US Supreme Court handed down a judgment that would permit states to legalise sports betting, opening a huge prospective new market to gambling business.

High stakes for fixed-odds wagering devices
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12 May 2018

Bookmakers hit by harder wager limitation fears

24 April 2018
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Betting maker wagers set for ₤ 30 limit

19 March 2018
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