The latest report of the UK Gambling Commission stated that a record revenue of £1.7 billion came from fixed-odds betting terminals (FOBT) last year and the Government decided to take action and review the status of FOBTs.
This is not the first time in recent years that FOBTs are in the public eye. Back in 2014, the then Prime Minister David Cameron pledged to announce a new code of conduct for operators that offer FOBT gambling. Earlier this year, a new study on FOBTs was conducted and it showed that people with lower income are more likely to wager the maximum £100.
Sport Minister Tracey Crouch said that the Government is considering lowering the maximum wagers and prizes for FOBTs and other gambling machines. She also noted that FOBTs can be very addictive. Crouch also stated that it is essential to find a balance, where the gambling industry would still be permitted to help the country’s economy with tax revenues, but the communities would also be protected.
The Deputy Leader of the Labour Party, who is also the Shadow Culture Secretary, Tom Watson, was critical of the Government and their approach towards FOBTs, stating that action on the matter should’ve been taken long ago. He added that Labour supports a reduction of the maximum wager amount to a mere £2. He concluded that FOBTs addiction possess a serious threat for low-income and unemployed gamblers.
The Association of British Bookmakers said that they are in favour of a review which would be based on evidence, adding that the group will provide necessary data on the issue. Simon Blackburn of the Local Government Association said that many people simple can’t afford to lose £100 in a matter of seconds.