Paddy Power Betfair urges choice on fixed-odds machines
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1 November 2017

Betting company Paddy Power Betfair has actually expressed aggravation that a government evaluation did not make a choice on fixed-odds wagering terminals.

The company's president Breon Corcoran stated the evaluation, launched on Tuesday, stopped working to supply "clearness".
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Ministers proposed that bets on the machines be cut from an optimum of ₤ 100 a spin to somewhere in between ₤ 2 and ₤ 50.

Mr Corcoran has formerly required the stakes to be slashed to attend to widespread social concerns.
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Campaigners argue the electronic makers feed gambling dependencies and can see gamers lose large amounts of cash very rapidly.
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Some had hoped the government would decrease the ₤ 100 stake on Tuesday, but ministers chose rather to seek advice from on a variety of choices.

A great bet? The fixed-odds controversy

Mr Corcoran stated on Wednesday: "We have sought long-term certainty and clearness. Yesterday doesn't provide that, but ideally we will arrive at the next phase."
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The consultation closes on 23 January, but Mr Corcoran said there might be some "drift" before the makes a decision.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in machine video gaming in the 3 months to the end of September. Group earnings increased by 9% to ₤ 440m.

He has actually previously written to the government saying the stakes on fixed-odds makers should be cut to "₤ 10 or less" since the dispute has become "so hazardous", according to the yohaig code Financial Times, external.
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The machines created more than ₤ 1.8 bn in revenue for the industry last year, helping to support growth for bookies.
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According to the federal government's assessment files, external, cutting the stake to ₤ 50 would cost companies ₤ 35m, however slashing it to ₤ 2 would see ₤ 639m lost over the next ten years.

The Association of British Bookmakers said on Tuesday the onus was on the yohaig code gaming market to help cut issue betting.

Fixed-odds optimum bet 'could drop to ₤ 2'

Bookies brace for possible sales hit

31 October 2017
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