William Hill Warns Prime Minister Over FOBTs Rule Change
William Hill warns prime minister over FOBTs rule change
15 May 2018
ByDominic O'Connell
Today Programme Business Correspondent
The chairman of bookmaker William Hill has warned the prime minister his firm risks being bought by a foreign rival if it is compromised by brand-new wagering rules.
In a letter to Theresa May, Roger Devlin stated modifications to the amount that can be banked on High Street gambling makers might strike jobs and earnings.
The government is expected to reveal imminently a last decision on its review fixed-odds betting terminals.
He proposed tougher guidelines on adverts and a levy to help issue bettors.
Currently, fixed-odds betting terminals (FOBTs) allow gamers to stake approximately ₤ 100 every 20 seconds.
An evaluation's interim findings recommended cutting the optimal stakes to ₤ 30, however there have actually been reports that the amount could be cut to just ₤ 2.
Anti-gambling campaigners, who have called the fixed-odds devices the "crack cocaine" of gaming, support the move.
Bookies, nevertheless, have actually alerted that such a cut would lead to the closure of countless outlets, a huge reduction in tax paid to the Treasury, and would have knock-on effects on the horse racing industry.
'Catastrophic'
Bookmakers support horse racing through a market levy and offering cash prize.
Mr Devlin's letter, initially reported by Sky News and seen by the BBC, stated UK gaming was "exceptionally well managed".
He composed: "Sadly, I fear that your government is about to decide that is unneeded and doing not have in proof - a choice that will likewise be disastrous for a retail wagering market utilizing over 40,000 people."
"Consolidation within our sector continues and I would likewise not desire to see the effect of an out of proportion ...
William Hill warns prime minister over FOBTs rule change
15 May 2018
ByDominic O'Connell
Today Programme Business Correspondent
The chairman of bookmaker William Hill has warned the prime minister his firm risks being bought by a foreign rival if it is compromised by brand-new wagering rules.
In a letter to Theresa May, Roger Devlin stated modifications to the amount that can be banked on High Street gambling makers might strike jobs and earnings.
The government is expected to reveal imminently a last decision on its review fixed-odds betting terminals.
He proposed tougher guidelines on adverts and a levy to help issue bettors.
Currently, fixed-odds betting terminals (FOBTs) allow gamers to stake approximately ₤ 100 every 20 seconds.
An evaluation's interim findings recommended cutting the optimal stakes to ₤ 30, however there have actually been reports that the amount could be cut to just ₤ 2.
Anti-gambling campaigners, who have called the fixed-odds devices the "crack cocaine" of gaming, support the move.
Bookies, nevertheless, have actually alerted that such a cut would lead to the closure of countless outlets, a huge reduction in tax paid to the Treasury, and would have knock-on effects on the horse racing industry.
'Catastrophic'
Bookmakers support horse racing through a market levy and offering cash prize.
Mr Devlin's letter, initially reported by Sky News and seen by the BBC, stated UK gaming was "exceptionally well managed".
He composed: "Sadly, I fear that your government is about to decide that is unneeded and doing not have in proof - a choice that will likewise be disastrous for a retail wagering market utilizing over 40,000 people."
"Consolidation within our sector continues and I would likewise not desire to see the effect of an out of proportion ...