Paddy Power Betfair advises decision on fixed-odds makers

1 November 2017

Betting company Paddy Power Betfair has expressed aggravation that a government evaluation did not make a decision on fixed-odds wagering terminals.

The firm's primary executive Breon Corcoran said the evaluation, released on Tuesday, stopped working to bet9ja's welcome offer "clearness".

Ministers proposed that bets on the machines be cut from an optimum of ₤ 100 a spin to someplace between ₤ 2 and ₤ 50.

Mr Corcoran has formerly called for the stakes to be slashed to attend to widespread social issues.

Campaigners argue the electronic makers feed gambling addictions and can see players lose large quantities of cash extremely rapidly.

Some had hoped the government would decrease the ₤ 100 stake on Tuesday, however ministers decided instead to seek advice from on a series of alternatives.

A great bet? the yohaig code fixed-odds controversy

Mr Corcoran stated on Wednesday: "We have looked for long-term certainty and clarity. Yesterday doesn't deliver that, however ideally we will get there at the yohaig code next stage."

The consultation 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 device gaming in the 3 months to the end of September. Group income rose by 9% to ₤ 440m.

He has actually formerly written to the federal government stating the stakes on fixed-odds devices should be cut to "₤ 10 or less" since the dispute has ended up being "so toxic", according to the Financial Times, external.

The devices produced more than ₤ 1.8 bn in revenue for the market in 2015, assisting to support development 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.

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

Fixed-odds optimum bet 'could drop to ₤ 2'

Bookies brace for possible sales struck

31 October 2017