William Hill Warns Prime Minister Over FOBTs Rule Change
William Hill warns prime minister over FOBTs guideline change
15 May 2018
ByDominic O'Connell
Today Programme Business Correspondent
The chairman of bookie William Hill has actually cautioned the prime minister his firm dangers being bought by a foreign rival if it is compromised by new betting rules.
In a letter to Theresa May, Roger Devlin stated changes to the quantity that can be banked on High Street betting devices might strike jobs and earnings.
The federal government is anticipated to announce imminently a final choice on its evaluation fixed-odds betting terminals.
He proposed harder rules on adverts and a levy to assist problem gamblers.
Currently, fixed-odds betting terminals (FOBTs) enable gamers to stake up to ₤ 100 every 20 seconds.
An evaluation's interim findings recommended cutting the maximum stakes to ₤ 30, however there have been reports that the quantity could be cut to simply ₤ 2.
Anti-gambling campaigners, who have actually dubbed the fixed-odds machines the "fracture drug" of betting, support the move.
Bookies, nevertheless, have actually warned that such a cut would lead to the closure of thousands of outlets, a big reduction in tax paid to the Treasury, and would have knock-on results on the horse racing industry.
'Catastrophic'
Bookmakers support horse racing through an industry levy and offering prize money.
Mr Devlin's letter, first reported by Sky News and seen by the BBC, stated UK gambling was "very well regulated".
He wrote: "Sadly, I fear that your federal government is about to make a choice that is unneeded and lacking in proof - a decision that will likewise be devastating for a retail wagering industry employing over 40,000 individuals."
"Consolidation within our sector continues and I would likewise not wish to see the effect of a disproportionate ...
William Hill warns prime minister over FOBTs guideline change
15 May 2018
ByDominic O'Connell
Today Programme Business Correspondent
The chairman of bookie William Hill has actually cautioned the prime minister his firm dangers being bought by a foreign rival if it is compromised by new betting rules.
In a letter to Theresa May, Roger Devlin stated changes to the quantity that can be banked on High Street betting devices might strike jobs and earnings.
The federal government is anticipated to announce imminently a final choice on its evaluation fixed-odds betting terminals.
He proposed harder rules on adverts and a levy to assist problem gamblers.
Currently, fixed-odds betting terminals (FOBTs) enable gamers to stake up to ₤ 100 every 20 seconds.
An evaluation's interim findings recommended cutting the maximum stakes to ₤ 30, however there have been reports that the quantity could be cut to simply ₤ 2.
Anti-gambling campaigners, who have actually dubbed the fixed-odds machines the "fracture drug" of betting, support the move.
Bookies, nevertheless, have actually warned that such a cut would lead to the closure of thousands of outlets, a big reduction in tax paid to the Treasury, and would have knock-on results on the horse racing industry.
'Catastrophic'
Bookmakers support horse racing through an industry levy and offering prize money.
Mr Devlin's letter, first reported by Sky News and seen by the BBC, stated UK gambling was "very well regulated".
He wrote: "Sadly, I fear that your federal government is about to make a choice that is unneeded and lacking in proof - a decision that will likewise be devastating for a retail wagering industry employing over 40,000 individuals."
"Consolidation within our sector continues and I would likewise not wish to see the effect of a disproportionate ...