Paddy Power Betfair advises decision on fixed-odds makers
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1 November 2017

Betting company Paddy Power Betfair has actually expressed disappointment that a federal government review did not make a decision on fixed-odds wagering terminals.

The company's president Breon Corcoran said the evaluation, launched on Tuesday, failed to provide "clearness".

Ministers proposed that bets on the devices be cut from an optimum of ₤ 100 a spin to someplace in between ₤ 2 and ₤ 50.

Mr Corcoran has actually previously required the yohaig code stakes to be slashed to deal with extensive social concerns.

Campaigners argue the yohaig code electronic devices feed betting addictions and can see gamers lose big quantities of money extremely rapidly.

Some had actually hoped the government would reduce the ₤ 100 stake on Tuesday, however ministers chose instead to seek advice from on a range of alternatives.
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Mr Corcoran said on Wednesday: "We have actually looked for long-term certainty and clearness. Yesterday does not deliver that, however hopefully we will arrive at the next phase."
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The consultation closes on 23 January, however Mr Corcoran said there might be some "drift" before the government makes a final decision.
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Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in machine video gaming in the three months to the end of September. Group income rose by 9% to ₤ 440m.
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He has previously written to the government saying the stakes on fixed-odds machines should be cut to "₤ 10 or less" since the dispute has ended up being "so poisonous", according to the Financial Times, external.

The machines created more than ₤ 1.8 bn in income for the market last year, assisting to support development for bookmakers.

According to the government's consultation files, external, cutting the stake to ₤ 50 would cost business ₤ 35m, however it to ₤ 2 would see ₤ 639m lost over the next 10 years.

The Association of British Bookmakers stated on Tuesday the onus was on the gaming market to help cut problem gambling.

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