Fixed odds betting terminals (FOBTs) have been, in multiple instances, cited as one of the key sources of problem gambling across the United Kingdom. Today (April 1) marks the date for a major change related to the gaming terminals in the country – going forward, they will not be allowed to offer odds of up to £100 ($130). This decision was arrived at following two years of debates which eventually culminated in the decree that the amount mentioned above was too high and was fueling the rise of problem gambling among the gamblers. Henceforth, the maximum odds for these gaming terminals will be only £2 ($2.60).
Great News for Anti-Gambling Lobbyists
A number of responsible gambling campaigners and lobbyists have welcomed the moved citing the fact that reducing the maximum bets will greatly reduce the chances of vulnerable people transitioning to gambling addicts.
“We have been closely monitoring operators’ plans to manage the implementation of the stake cut and we will continue to watch very carefully to ensure that any changes and developments to these products are done with a focus on customer safety,” said Neil McArthur, chief executive of the Gambling Commission.
Even though many of the responsible gambling campaigners have been impressed by the initiative, many of them are still of the opinion that even tougher regulations should be considered in order to crack down on all forms of gambling-related harm. For instance, Adam Bradford, the co-founder of the Safer Online Gambling Group pointed out that while the move closed the door on the risk of gambling addiction poised by the betting terminals, it might have in turn opened the door for addiction in the online space.
“We need to take action now, in collaboration with the industry, to improve safeguarding measures, provide adequate support and treatment and a crackdown on pervasive advertising,” he said.
Casinos Ready for Blow
Understandably, the decision to lower the maximum bets on the fixed odds betting terminals has not been met well by many of the casino operators especially those that are highly dependent on the terminals. Industry figures reveal that, due to the regulatory decision, about a third of the 8,500 high-street land-based betting outlets will be forced to close down.
In response to the FOBT stake reduction, some of the larger bookmakers have since chosen to focus on online gambling. Unfortunately, for smaller casino operators, this is not an option and they are certainly going to take huge revenue hits going forward.
