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.