William Hill warns prime minister over FOBTs guideline modification

15 May 2018
bet9ja.com
ByDominic O'Connell Today Programme Business Correspondent

The chairman of bookmaker William Hill has warned the prime minister his firm dangers being purchased by a foreign rival if it is damaged by brand-new betting rules.

In a letter to Theresa May, Roger Devlin stated changes to the amount that can be banked on High Street gambling devices might hit jobs and profits.
bit.ly
the yohaig code federal government is expected to reveal imminently a last decision on its review fixed-odds betting terminals.

He proposed tougher rules on adverts and a levy to assist problem bettors.
bit.ly
Currently, fixed-odds betting terminals (FOBTs) permit gamers to stake approximately ₤ 100 every 20 seconds.

An evaluation's interim findings recommended cutting the optimal stakes to ₤ 30, however there have actually been reports that the quantity could be cut to just ₤ 2.

Anti-gambling advocates, who have actually dubbed the fixed-odds makers the "crack drug" of gambling, support the move.

Bookies, however, have actually alerted that such a cut would lead to the closure of countless outlets, a huge decrease in tax paid to the Treasury, and would have ripple effects on the horse racing industry.

'Catastrophic'

Bookmakers support horse racing through a market levy and offering prize cash.

Mr Devlin's letter, initially reported by Sky News and seen by the BBC, stated UK gaming was "extremely well regulated".
bet9ja.com
He composed: "Sadly, I fear that your federal government is about to decide that is unneeded and lacking in proof - a choice that will likewise be disastrous for a retail betting market utilizing over 40,000 individuals."

"Consolidation within our sector continues and I would also not desire to see the impact of a disproportionate ... outcome being an aspect in the name of William Hill being added to the list of business now in foreign ownership," he stated.
bet9ja.com
Mr Devlin stated William Hill supported a ban on gambling marketing on television before the watershed, and a levy on the industry to pay for education and treatment of problem bettors.
bet9ja.com
Mr Devlin, who was appointed chairman of the bookmaker previously this promotion code year, is likewise chairman of the housebuilder Persimmon, which has actually been racked with controversy over a generous executive pay scheme.

Shares in William Hill have been struck hard by fears that fixed-odds stakes would be cut, falling dramatically last month on reports that the chancellor, Philip Hammond, would not oppose the relocation.

On Monday, though. William Hill shares jumped after the US Supreme Court bied far a ruling that would permit states to legalise sports betting, opening up a huge prospective brand-new market to gambling business.

High stakes for fixed-odds wagering machines
bet9ja.com
12 May 2018

Bookmakers hit by harder wager limitation fears
bit.ly
24 April 2018

wagers set for ₤ 30 limit

19 March 2018