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.