Paddy Power Betfair prompts decision on fixed-odds makers

1 November 2017

Betting firm Paddy Power Betfair has actually expressed frustration that a federal 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 provide "clarity".
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Ministers proposed that bets on the devices be cut from a maximum of ₤ 100 a spin to somewhere between ₤ 2 and ₤ 50.
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Mr Corcoran has actually formerly required the stakes to be slashed to resolve widespread social issues.

Campaigners argue the electronic makers feed betting dependencies and can see gamers lose large quantities of money extremely rapidly.

Some had actually hoped the government would reduce the ₤ 100 stake on Tuesday, but ministers chose instead to seek advice from on a variety of choices.
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A good bet? The fixed-odds debate
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Mr Corcoran stated on Wednesday: "We have looked for long-term certainty and clarity. Yesterday does not provide that, however ideally we will arrive at the next phase."
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The consultation closes on 23 January, however Mr Corcoran said there might be some "drift" before the government makes a decision.
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Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in device gaming in the three months to the end of September. Group revenue rose by 9% to ₤ 440m.

He has actually formerly composed to the federal government stating the stakes on fixed-odds makers should be cut to "₤ 10 or less" because the dispute has become "so hazardous", according to the Financial Times, external.

The makers produced more than ₤ 1.8 bn in revenue for the yohaig code market in 2015, to support growth for bookies.

According to the 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 next ten years.
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The Association of British Bookmakers said on Tuesday the onus was on the gaming industry to assist cut problem betting.

Fixed-odds maximum bet 'might drop to ₤ 2'

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31 October 2017