Odds shortening on FBOTs
The Times political editor Francis Elliot reported yesterday that a change to the stakes permitted on controversial B2 gaming machines was no longer being opposed by the treasury.
The machines, described in some parts of the media as the ‘crack cocaine of gambling’ are currently permitted to accept stakes of up to £100 and are limited to Casinos, Tracks and Betting Shops.
Campaigners have been highly critical of the large stakes which can, due to the nature of the games, be placed in relatively short periods and potentially lead to substantial losses.
The article quoted Whitehall sources claiming that opposition from the Treasury on the grounds of potential lost tax revenue has softened and a reduction of maximum stakes from £100 to £2 may follow.
B2 gaming machines income is a significant part of many Bookmakers businesses and the impact of proposed changes will impact large national chains and independent operators considerably.
We shall keep you updated.