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11 Billion in losses for UK Consumers

by ThePOGG - May 14, 2017

A report has been filed that has collated the losses of UK consumers on fixed odds betting terminals since 2008.

The research carried out by Landman Economics stated that the eleven billion pounds lost by consumers in the UK since 2008 equates to roughly £8000 per person over that period. £50 billion has been ploughed into these machines over that 9-year period and has seen critics call for a reduction in the maximum bet of £100 per spin.

Earlier this year the All-Party Parliamentary Group (APPG) recommended that the maximum bet on FOBTs should be reduced by £98 to £2 per spin.

This was countered by the Association of British Bookmakers who stated that the report by APPG was “misleading” and “deeply flawed.” A complaint was filed and the report was deemed to have failed to follow proper parliamentary procedures.

An official apology was given by APPG’s chair, Labour MP, Caroline Harris.

The United Kingdom of Great Britain and Northern Ireland sits to the north-west of mainland Europe. The United Kingdom shares a border with The Republic of Ireland and has coasts on the Atlantic Ocean, Celtic Sea, North Sea, Irish Sea and English Channel. The population of the UK is approaching the 67.6 million mark leading to a fairly densely populated land mass. The gambling sector in the United Kingdom is entirely regulated and licensed by the UKGC – the United Kingdom Gambling Commission. Should players resident In the UK wish to gamble with foreign based operators there is no history of this being treated as a criminal offence, but high levels of protection exist for UK residents playing with UK licensed operators.

Disclaimer:

The above information is what we believe to be the the legal status of online gambling, however information on this topic is limited and hard to find. We accept no liability for any errors or ommissions. It is the reader’s responsibility to ensure that they know the legality of online gambling in their country before engaging with any online gambling service.