Paddy Power Betfair advises choice on fixed-odds devices

1 November 2017

Betting firm Paddy Power Betfair has revealed aggravation that a government evaluation did not decide on fixed-odds betting terminals.

The firm's president Breon Corcoran stated the evaluation, released on Tuesday, failed to provide "clearness".

Ministers proposed that bets on the makers be cut from a maximum of ₤ 100 a spin to somewhere in between ₤ 2 and ₤ 50.
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Mr Corcoran has actually previously required the stakes to be slashed to attend to widespread social concerns.
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Campaigners argue the electronic devices feed betting dependencies and can see gamers lose big amounts of cash extremely rapidly.

Some had hoped the government would reduce the yohaig code ₤ 100 stake on Tuesday, but ministers chose instead to seek advice from on a range of alternatives.
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A great bet? The fixed-odds debate
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Mr Corcoran said on Wednesday: "We have actually looked for long-term certainty and clarity. Yesterday does not deliver that, however ideally we will arrive at the yohaig code next phase."
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The assessment closes on 23 January, however Mr Corcoran said there might be some "drift" before the federal government makes a decision.
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Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in device gaming in the three months to the end of September. Group revenue rose by 9% to ₤ 440m.

He has actually formerly composed to the government saying the stakes on fixed-odds machines need to be cut to "₤ 10 or less" due to the fact that the argument has actually ended up being "so harmful", according to the Financial Times, .
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The devices created more than ₤ 1.8 bn in earnings for the industry last year, assisting to support growth for bookmakers.

According to the government's assessment files, external, cutting the stake to ₤ 50 would cost business ₤ 35m, however slashing it to ₤ 2 would see ₤ 639m lost over the next 10 years.
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the yohaig code Association of British Bookmakers stated on Tuesday the yohaig code onus was on the betting market to help cut problem gambling.

Fixed-odds maximum bet 'could drop to ₤ 2'
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31 October 2017