1 William Hill Warns Prime Minister Over FOBTs Rule Change
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William Hill cautions prime minister over FOBTs rule modification
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15 May 2018

ByDominic O'Connell Today Programme Business Correspondent

The chairman of bookie William Hill has warned the prime minister his firm threats being purchased by a foreign competitor if it is weakened by new betting rules.
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In a letter to Theresa May, Roger Devlin said modifications to the amount that can be banked on High Street betting machines might hit tasks and revenues.
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The federal government is expected to reveal imminently a decision on its review fixed-odds betting terminals.

He proposed harder rules on adverts and a levy to help problem bettors.

Currently, fixed-odds betting terminals (FOBTs) enable gamers to stake up to ₤ 100 every 20 seconds.
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A review's interim findings suggested cutting the optimal stakes to ₤ 30, but there have been reports that the yohaig code quantity could be cut to simply ₤ 2.

Anti-gambling campaigners, who have actually called the fixed-odds devices the "fracture cocaine" of betting, support the move.
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Bookies, nevertheless, have actually alerted that such a cut would lead to the closure of countless outlets, a huge reduction in tax paid to the Treasury, and would have knock-on effects on the horse racing industry.

'Catastrophic'

Bookmakers support horse racing through a market levy and offering cash prize.
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Mr Devlin's letter, first reported by Sky News and seen by the yohaig code BBC, stated UK gaming was "exceptionally well managed".
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He wrote: "Sadly, I fear that your government will make a choice that is unnecessary and doing not have in proof - a choice that will likewise be catastrophic for a retail betting market employing over 40,000 people."

"Consolidation within our sector continues and I would also not want to see the impact of an out of proportion ... result being a consider the name of William Hill being included to the list of companies now in foreign ownership," he stated.

Mr Devlin stated William Hill supported a ban on betting advertising on tv before the watershed, and a levy on the market to spend for education and treatment of problem bettors.

Mr Devlin, who was designated chairman of the bookmaker earlier this promotion code year, is also chairman of the housebuilder Persimmon, which has been racked with controversy over a generous executive pay scheme.
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Shares in William Hill have actually been hit hard by fears that fixed-odds stakes would be cut, falling sharply last month on reports that the chancellor, Philip Hammond, would not oppose the move.

On Monday, though. William Hill shares jumped after the US Supreme Court bied far a judgment that would allow states to legalise sports betting, opening a big prospective new market to betting companies.

High stakes for fixed-odds betting devices

12 May 2018

Bookmakers struck by harder wager fears

24 April 2018
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Betting machine wagers set for ₤ 30 limit

19 March 2018
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