Maximum stake on fixed-odds betting terminals reduced to £2

THE maximum stake on a fixed-odds betting terminal (FOBT) is to be reduced from £100 to £2.

The move follows a lengthy consultation about the machines – branded the “crack cocaine of gambling” by critics – and will come as a major blow to bookmakers, who argued that a dramatic cut would lead to job losses.

The Government said that the change was designed to reduce the potential for large losses and cut the risk of harm to both players and the wider community.

Culture Secretary Matt Hancock said: “When faced with the choice of halfway measures or doing everything we can to protect vulnerable people, we have chosen to take a stand.

“These machines are a social blight and prey on some of the most vulnerable in society, and we are determined to put a stop to it and build a fairer society for all.”

The announcement was made by sports minister Tracy Crouch, who said: “Problem gambling can devastate individuals’ lives, families and communities.

“It is right that we take decisive action now to ensure a responsible gambling industry that protects the most vulnerable in our society. By reducing FOBT stakes to £2 we can help stop extreme losses by those who can least afford it.

“While we want a healthy gambling industry that contributes to the economy, we also need one that does all it can to protect players.

“We are increasing protections around online gambling, doing more on research, education and treatment of problem gambling and ensuring tighter rules around gambling advertising.

“We will work with the industry on the impact of these changes and are confident that this innovative sector will step up and help achieve this balance.”

The chief executive of amusement machine industry trade body Bacta, John White, said: “We warmly welcome this announcement.

“A stake reduction to £2 has long been needed to protect consumers from the harm caused by FOBTs.

“This is a decision that puts player protection first, and will allow the gambling industry as a whole to move forwards and create a safer, more socially responsible environment for consumers.

“It is a testament to the wide-ranging campaign for stake reduction from concerned individuals and organisations across politics, public health and the wider gaming sector. The Government has made the right decision and it now needs to be implemented without delay.”

Philip Bowcock, chief executive of William Hill, said: “William Hill has a long and proud heritage as part of the UK high street and we know how important betting shops are to our customers and their local economies.

“The Government has handed us a tough challenge today and it will take some time for the full impact to be understood, for our business, the wider high street and key partners like horseracing.

“We will continue to evolve our retail business in order to adapt to this change and we will support our colleagues as best we can.

“Despite the challenges presented by this decision, our teams will compete hard and offer great service to William Hill customers.”