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warns prime minister over FOBTs guideline change
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15 May 2018
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ByDominic O'Connell Today Programme Business Correspondent

The chairman of bookie William Hill has actually alerted the prime minister his firm threats being purchased by a foreign rival if it is weakened by brand-new wagering rules.

In a letter to Theresa May, Roger Devlin stated changes to the quantity that can be banked on High Street gambling machines could strike jobs and revenues.

the yohaig code government is anticipated to announce imminently a last choice on its evaluation fixed-odds wagering terminals.

He proposed tougher guidelines on adverts and a levy to help issue bettors.
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Currently, fixed-odds betting terminals (FOBTs) permit players to stake up to ₤ 100 every 20 seconds.

A review's interim findings suggested cutting the optimal stakes to ₤ 30, however there have been reports that the amount might be cut to simply ₤ 2.

Anti-gambling advocates, who have dubbed the fixed-odds machines the "crack drug" of betting, support the relocation.

Bookies, nevertheless, have warned that such a cut would result in the closure of countless outlets, a huge decrease in tax paid to the Treasury, and would have ripple effects on the horse racing industry.
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'Catastrophic'

Bookmakers support horse racing through an industry levy and offering prize cash.
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Mr Devlin's letter, first reported by Sky News and seen by the BBC, said UK gambling was "exceptionally well managed".
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He wrote: "Sadly, I fear that your government is about to decide that is unnecessary and doing not have in evidence - a decision that will likewise be devastating for a retail betting industry using over 40,000 people."

"Consolidation within our sector continues and I would also not desire to see the impact of a disproportionate ... result being an aspect in the name of William Hill being included to the list of business now in foreign ownership," he stated.

Mr Devlin said William Hill supported a ban on gambling advertising on television before the watershed, and a levy on the industry to spend for education and treatment of issue gamblers.

Mr Devlin, who was appointed chairman of the bookmaker earlier this year, is likewise chairman of the housebuilder Persimmon, which has actually been racked with debate over a generous executive pay plan.

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

On Monday, though. William Hill shares leapt after the US Supreme Court bied far a ruling that would permit states to legalise sports betting, opening up a big possible new market to betting companies.

High stakes for fixed-odds wagering makers
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12 May 2018

Bookmakers struck by tougher wager limitation fears

24 April 2018
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Betting machine wagers set for ₤ 30 limitation

19 March 2018
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