UK bookies are about to get hit by FOBTs restrictions and the requirement to fund a problem gambling awareness campaign.
Problem gambling is one of any government’s major concerns when discussing the industry and its regulation. That’s why the British government is set to impose restrictions on fixed-odds betting terminals (FOBTs) and will demand bookies to fund a problem gambling awareness campaign.
Despite knowing they’re about to get hit, it is still unclear how big the impact will be for bookmakers as the Department for Culture, Media and Sport (DCMS) is preparing three options for the maximum stake limit to be set on FOBTs (which is currently £100 every 20 seconds): one is a cut to £2 (promoted by the Labour party); one that foresees a £50 limit (which bookies are expected to approve); and one between £10 and £30.
Worst case scenario (dropping the limit to £2) would cost 20K jobs and would cut down the Treasury’s income from machine gaming duty, the Association of British Bookmakers say. However, the industry reportedly accepts the need to reduce the limit and won’t be challenging the decision at court.
Once the DCMS publishes the review, a 12-week consultation will follow in order to determine what DCMS’ final determination will actually be.
