William Hill alerts prime minister over FOBTs guideline change
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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 purchased by a foreign competitor if it is compromised by brand-new wagering rules.

In a letter to Theresa May, Roger Devlin said modifications to the quantity that can be banked on High Street betting devices might strike tasks and earnings.

The federal government is anticipated to announce imminently a final choice on its review fixed-odds wagering .

He proposed tougher guidelines on adverts and a levy to assist problem 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, but there have been reports that the quantity could be cut to simply ₤ 2.

Anti-gambling advocates, who have actually dubbed the fixed-odds devices the yohaig code "fracture cocaine" of betting, support the move.
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Bookies, however, have actually alerted that such a cut would result in the closure of thousands of outlets, a huge decrease in tax paid to the Treasury, and would have ripple effects on the horse racing market.
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'Catastrophic'

Bookmakers support horse racing through a market levy and offering prize money.
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Mr Devlin's letter, initially reported by Sky News and seen by the BBC, said UK gaming was "extremely well controlled".
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He composed: "Sadly, I fear that your government is about to decide that is unnecessary and lacking in proof - a decision that will likewise be disastrous for a retail betting industry utilizing over 40,000 people."

"Consolidation within our sector continues and I would likewise not want to see the yohaig code effect of a disproportionate ... result being a factor in the name of William Hill being contributed to the list of business now in foreign ownership," he stated.

Mr Devlin said William Hill supported a restriction on betting marketing on tv before the watershed, and a levy on the market to pay for education and treatment of issue gamblers.
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Mr Devlin, who was designated chairman of the bookie previously this promotion code year, is likewise chairman of the housebuilder Persimmon, which has been racked with controversy over a generous executive pay scheme.

Shares in William Hill have been hit hard by fears that fixed-odds stakes would be cut, falling greatly last month on reports that the chancellor, Philip Hammond, would not oppose the relocation.

On Monday, however. William Hill shares jumped after the US Supreme Court handed down a ruling that would allow states to legalise sports wagering, opening a big prospective new market to betting business.
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