Paddy Power Betfair advises decision on fixed-odds machines

1 November 2017
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Betting firm Paddy Power Betfair has revealed disappointment that a federal government review did not decide on fixed-odds wagering terminals.
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The firm's president Breon Corcoran stated the review, released on Tuesday, stopped working to provide "clearness".
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Ministers proposed that bets on the devices be cut from a maximum of ₤ 100 a spin to someplace in between ₤ 2 and ₤ 50.

Mr Corcoran has actually previously the yohaig code stakes to be slashed to deal with prevalent social concerns.

Campaigners argue the electronic machines feed betting dependencies and can see players lose big quantities of cash really quickly.
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Some had hoped the government would decrease the ₤ 100 stake on Tuesday, but ministers chose instead to speak with on a variety of choices.
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A good bet? The fixed-odds controversy
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Mr Corcoran stated on Wednesday: "We have looked for long-lasting certainty and clearness. Yesterday doesn't provide that, but hopefully we will get there at the next phase."
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The consultation closes on 23 January, but Mr Corcoran stated there might be some "drift" before the federal government makes a decision.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in device video gaming in the three months to the end of September. Group profits rose by 9% to ₤ 440m.

He has actually previously composed to the federal government stating the stakes on fixed-odds devices must be cut to "₤ 10 or less" since the dispute has actually become "so harmful", according to the Financial Times, external.

The machines created more than ₤ 1.8 bn in income for the industry last year, helping to support growth for bookies.

According to the government's assessment files, external, cutting the stake to ₤ 50 would cost business ₤ 35m, but slashing it to ₤ 2 would see ₤ 639m lost over the next ten years.
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The Association of British Bookmakers said on Tuesday the onus was on the gaming industry to help cut issue gambling.

Fixed-odds maximum bet 'might drop to ₤ 2'

Bookies brace for possible sales struck

31 October 2017
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