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Fixed Odds Betting Machines To Stick Around a Bit Longer

by Glenn Baird - October 28, 2018

It was announced earlier this week in the Guardian that the original proposal to cut the maximum wager on fixed odds betting machines in the UK, due to go through in April 2019, will now be postponed until October next year.

According to the Guardian the plan to reduce the maximum bet on fixed odds betting machines from £100 to £2 was originally intended to come into action in April 2020 as the government needed time to prepare for a loss of roughly £450 million in taxes that it earns from the UK gambling industry each year. However, following a public outcry the date was brought forward by 12 months, with any shortfall being covered by an increase in tax levies for online gambling companies.

The Guardian claims to have insider information on a decision to push the date back to October, which they say will be communicated officially on Monday when Philip Hammond, Chancellor of the Exchequer, reveals the UK Budget.

In response to this Labour MP Carolyn Harris said: “Any additional time is without justification and merely lining the bookmakers’ pockets.”

A sentiment that was reinforced by Matt Zarb-Cousin, a spokesperson for campaign group Fairer Gambling: “More people will get addicted and more lives will be destroyed as a result of any unnecessary delay.”

We will know more about the short-term fate of FOBMs as of tomorrow when Philip Hammond announces the new budget.

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.