FIXED ODDS CRACKDOWN
... but Labour says bookies winning again
THE maximum stake on fixed odds betting terminals could be slashed from £100 to £2, ministers have announced.
Punters can currently pump £100 every 20 seconds into betting shop gaming machines, dubbed the “crack cocaine of gambling”.
The Government is launching a 12-week consultation to investigate lowering maximum stakes to between £50 and £2.
Labour said it was “deeply disappointing” and said ministers should have taken action immediately.
The number of FOBTs has risen from 20,000 in 2005 to 34,388 today and are accused of being behind a sharp rise in gambling addiction.
The Gambling Commission said they generated £1.8billion for the industry in gross profit – equivalent to £52,000 per machine per year.
The number of problem gamblers has risen from 280,000 in 2012 to 430,000 in 2015. The consultation will recommend cutting the maximum stake to either £50, £30, £20 or £2. Culture Minister Tracey Crouch said: “It is vital that we strike the right balance between socially responsible growth and protecting the most vulnerable, including children, from gambling-related harm.” But Shadow Culture, Media and Sport Secretary, Tom Watson, said: “This response is deeply disappointing. There’s an old maxim that the bookies always win – and they’ve won again today. “Their shares are up and their lobbyists were grinning from ear to ear on TV.” John White of gaming machine trade association Bacta said: “We urge Government to cast aside the notion of a £50 stake as it will have little to no impact.”