paddy-power-betfair-urges-decision-on-fixed-odds-machines

Paddy Power Betfair prompts decision on fixed-odds makers
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1 November 2017
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Betting firm Paddy Power Betfair has actually expressed aggravation that a government evaluation did not make a decision on fixed-odds wagering terminals.

The firm's president Breon Corcoran said the evaluation, released on Tuesday, stopped working to supply "clarity".
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Ministers proposed that bets on the machines be cut from an optimum of ₤ 100 a spin to someplace in between ₤ 2 and ₤ 50.
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Mr Corcoran has actually previously required the stakes to be slashed to address extensive social issues.

Campaigners argue the electronic makers feed betting addictions and can see players lose large amounts of money extremely rapidly.

Some had actually hoped the government would decrease the yohaig code ₤ 100 stake on Tuesday, however ministers decided instead to consult on a series of alternatives.

A good bet? The fixed-odds controversy
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Mr Corcoran said on Wednesday: "We have sought long-lasting certainty and clarity. Yesterday doesn't provide that, however hopefully we will arrive at the next stage."
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the yohaig code consultation closes on 23 January, but Mr Corcoran stated there might be some "drift" before the government makes a last choice.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in maker video gaming in the three months to the end of September. Group income rose by 9% to ₤ 440m.
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He has actually previously written to the federal government saying the stakes on fixed-odds devices must be cut to "₤ 10 or less" since the debate has actually become "so poisonous", according to the Financial Times, external.
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The machines produced more than ₤ 1.8 bn in earnings for the industry last year, assisting 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 stated on Tuesday the onus was on the to help cut issue betting.
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Fixed-odds optimum bet 'could drop to ₤ 2'

Bookies brace for possible sales struck

31 October 2017