Concerned over fixed-odds betting terminals that are spreading in the United Kingdom, David Cameron, UK’s Prime Minister, is set to announce a new code of conduct to be toughened up according to a report on the Guardian.
Not only a crackdown on high speed gambling machines is set to be announced, but bookmakers will also get penalties if they don’t enforce new limits on playing times and players’ losses that show up as pop ups whenever a player has spent £250 or played for 30 minutes. This code, according to the Prime Minister needs to be “toughened up” in order to minimize harm.
Compared to 2010, the player losses on FOBTs have risen from £1.3bn to £1.5bn and the machines are currently responsible for half of the gross profits made by bookmakers.
It is expected that David Cameron announce a clampdown on the terminals with a few regulatory measures this week. In a letter, it is also reported that the Prime Minister also questioned if the industry limits were too high and he also proposed that the regulatory measures should become part of the operating license.
Some reports also add that Cameron will also tackle the problem with the concentration of bookmakers in the poorest zones in Great Britain.
Leading bookmaker Ladbrokes, analyzed the betting patterns on its machines in April 2013 and found out that players played its FOBTs 4.8m times, betting £1bn over a period of four weeks. The data alarms that in 92% of the sessions on FOBTs players would not get any warnings because the playing time would not exceed 30 minutes. Moreover, Ladbrokes analysis shows that the players’ loss on average per 60 minute playing session is a bit more than £93, but below the proposed £250 limit.