paddy-power-betfair-urges-decision-on-fixed-odds-machines

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Paddy Power Betfair prompts choice on fixed-odds makers
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1 November 2017

Betting firm Paddy Power Betfair has revealed aggravation that a federal government review did not make a choice on fixed-odds betting terminals.
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The firm's chief executive Breon Corcoran said the evaluation, launched on Tuesday, failed to supply "clearness".

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

Mr Corcoran has actually previously called for the stakes to be slashed to address extensive social issues.
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Campaigners argue the electronic machines feed betting dependencies and can see gamers lose big of cash very quickly.

Some had actually hoped the yohaig code government would decrease the ₤ 100 stake on Tuesday, however ministers decided rather to speak with on a series of options.

A good bet? The fixed-odds debate

Mr Corcoran stated on Wednesday: "We have actually sought long-lasting certainty and clarity. Yesterday doesn't deliver that, but hopefully we will get there at the next stage."
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The assessment closes on 23 January, but Mr Corcoran said there could be some "drift" before the federal government makes a decision.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in device gaming in the three months to the end of September. Group income increased by 9% to ₤ 440m.
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He has formerly composed to the federal government saying the stakes on fixed-odds makers need to be cut to "₤ 10 or less" because the argument has become "so toxic", according to the Financial Times, external.

The devices created more than ₤ 1.8 bn in revenue for the market in 2015, assisting to support growth for bookmakers.

According to the government's assessment documents, external, cutting the stake to ₤ 50 would cost business ₤ 35m, but slashing it to ₤ 2 would see ₤ 639m lost over the next ten years.
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The Association of British Bookmakers stated on Tuesday the onus was on the gambling industry to assist cut problem gaming.
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Fixed-odds optimum bet 'could drop to ₤ 2'

Bookies brace for possible sales struck

31 October 2017