Surprise poll windfall for bookmakers

BOOKMAKERS will be hundreds of millions of pounds better off after the decision to call a snap Election as it has delayed a long-awaited review into stakes and prizes.

A key issue in the review was whether to slash the £100 top stake on fixed-odds betting terminals, known as FOBTs.

A report commissioned by the betting industry from accountant KPMG concluded that the proposed £2 top stake would see the Treasury lose £1billion in tax over the next four years, and a serious drop in profits for bookmakers.

High street chains such as William Hill and Ladbrokes Coral take £1.8billion a year in profits from FOBTs alone, so even a six-month delay would benefit them hugely.

Last week in Parliament, Natalie McGarry, MP for Glasgow South, asked if an announcement about ‘our long campaign for caps on the ruinous stakes for FOBTs’ would be made this spring as promised. She was told there would be no announcements, due to the Election campaign.