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Paddy Power Betfair urges decision on fixed-odds machines

1 November 2017
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Betting firm Paddy Power Betfair has expressed disappointment that a federal government evaluation did not make a decision on fixed-odds betting terminals.

The firm's president Breon Corcoran said the evaluation, launched on Tuesday, failed to provide "clarity".
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Ministers proposed that bets on the machines be cut from a maximum of ₤ 100 a spin to somewhere in between ₤ 2 and ₤ 50.

Mr Corcoran has actually previously called for the stakes to be slashed to attend to widespread social concerns.

Campaigners argue the electronic machines feed betting dependencies and can see gamers lose large amounts of money extremely quickly.
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Some had hoped the government would reduce the ₤ 100 stake on Tuesday, but ministers decided instead to speak with on a range of alternatives.
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A great bet? the yohaig code fixed-odds debate

Mr Corcoran stated on Wednesday: "We have actually sought long-term certainty and clearness. Yesterday does not provide that, however ideally we will arrive at the next stage."

The assessment closes on 23 January, however Mr Corcoran said there could be some "drift" before the federal government makes a decision.
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Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in in the 3 months to the end of September. Group income rose by 9% to ₤ 440m.

He has previously composed to the yohaig code government saying the stakes on fixed-odds makers must be cut to "₤ 10 or less" due to the fact that the argument has ended up being "so harmful", according to the Financial Times, external.
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The makers created more than ₤ 1.8 bn in income for the industry in 2015, helping to support growth for bookmakers.
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According to the federal government's consultation documents, external, cutting the stake to ₤ 50 would cost companies ₤ 35m, but slashing it to ₤ 2 would see ₤ 639m lost over the yohaig code next ten years.

The Association of British Bookmakers said on Tuesday the onus was on the betting market to assist cut issue gambling.
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Fixed-odds maximum bet 'could drop to ₤ 2'

Bookies brace for possible sales struck

31 October 2017
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