bookmakers in the UK may lose about £ 150 million a year due to FOBTs crackdown

Leading bookmakers in the UK may lose about £ 150 million a year due to FOBTs crackdown

According to the information of Financial Times, leading bookmakers in the UK can lose at least £ 150 million (€ 166.5 million) in revenue per year if the government decides to introduce a new limit in FOBTs – gambling terminals with fixed odds.

Leading bookmakers in the UK may lose about £ 150 million

Gaming terminals with fixed odds are electromechanical devices that are most often found in the offices of bookmakers. FOBT can represent roulette, lottery and other types of gaming machines. They are often called the crack cocaine for quick addiction.

FOBT has been the subject of much controversy for several years with the participation of various groups of activists and deputies calling for cutting the maximum rate from £ 100 to just 2 pounds.

The Financial Times said that the government will offer a number of options: without changing the maximum rate; a reduction of up to 2 pounds, as required by the activists; or a compromise rate of 20-30 pounds sterling.

If the government chooses the latter option, the bookmakers will lose about £ 150 million each year.

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If a limit of 2 pounds is introduced, its impact on operators will be much higher. According to the UK Gambling Commission information, gross gambling yield from the FOBTs totaled £1.8 billion in the October 2015-September 2016 period. Ladbrokes Coral, William Hill and Paddy Power Betfair call FOBTs the main source of revenue.

FOBTs are located in betting shops around the country. Here you can wager on the outcome of some beloved table games like blackjack or roulette. There were more than 34K models of FOBTs in the period 2015-2016 and their greater part belongs to William Hill and Ladbrokes Coral.

The British financial company Barclays tells that William Hill might lose over £280 mln in revenue, while the number for Ladbrokes Coral is much higher and comprises £450 mln in revenue next year in case the stake will be made £2.

In the event that the maximum bet will casinobe £25, the loss of William Hill will be about £55 mln and Ladbrokes Coral will lose £90 mln in revenue in 2018, according to the predictions of the analysts from Barclays.

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