Nov 13, 2017
Ladbrokes Coral: FOBT-ed off
A cut in betting machine stakes from £100 to £2 seems increasingly likely. Fixed Odds Betting Terminals - the so-called "Armless bandits" that let users bet up to £100 every 20 seconds - provide the group's largest single source of revenues. Betting machines generated £1.8bn last year - a chunky source of taxable revenue for the government to relinquish. If betting machines are the crack cocaine of gambling then ministers clearly favour a slow detox over going cold turkey. The decline in bricks-and-mortar gambling and the impact of the betting terminals review have long been chewed over.
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