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Paddy Power Betfair urges decision on fixed-odds machines
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1 November 2017
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Betting company Paddy Power Betfair has expressed disappointment that a government review did not decide on fixed-odds betting terminals.
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The firm's president Breon Corcoran stated the evaluation, launched on Tuesday, stopped working to supply "clearness".

Ministers proposed that bets on the machines be cut from a maximum of ₤ 100 a spin to somewhere between ₤ 2 and ₤ 50.
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Mr Corcoran has actually previously required the stakes to be slashed to resolve prevalent social issues.

Campaigners argue the electronic devices feed betting addictions and can see gamers lose large quantities of money really rapidly.

Some had hoped the government would lower the ₤ 100 stake on Tuesday, but ministers chose instead to consult on a variety of options.

An excellent bet? The fixed-odds controversy

Mr Corcoran stated on Wednesday: "We have looked for long-lasting certainty and clarity. Yesterday doesn't provide that, but ideally we will arrive at the next phase."

The assessment closes on 23 January, however Mr Corcoran stated there might be some "drift" before the federal government makes a decision.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in maker gaming in the 3 months to the yohaig code end of September. Group profits rose by 9% to ₤ 440m.
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He has previously written to the yohaig code federal government stating the stakes on fixed-odds machines should be cut to "₤ 10 or less" due to the fact that the dispute has ended up being "so harmful", according to the Financial Times, external.

The machines produced more than ₤ 1.8 bn in revenue for the market in 2015, helping to support growth for bookmakers.

According to the federal government's consultation documents, external, the stake to ₤ 50 would cost business ₤ 35m, however slashing it to ₤ 2 would see ₤ 639m lost over the next 10 years.

The Association of British Bookmakers stated on Tuesday the onus was on the yohaig code gaming market to assist cut issue gambling.

Fixed-odds maximum bet 'might drop to ₤ 2'
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Bookies brace for possible sales hit

31 October 2017
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