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

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Paddy Power Betfair advises decision on fixed-odds machines
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1 November 2017
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Betting company Paddy Power Betfair has actually expressed aggravation that a federal government evaluation did not make a choice on fixed-odds betting terminals.

The firm's president Breon Corcoran stated the evaluation, released on Tuesday, failed to bet9ja's welcome offer "clearness".
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Ministers proposed that bets on the devices be cut from a maximum of ₤ 100 a spin to somewhere in between ₤ 2 and ₤ 50.

Mr Corcoran has actually formerly called for the stakes to be slashed to resolve extensive social issues.
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Campaigners argue the electronic devices feed gambling dependencies and can see gamers lose large of cash very quickly.

Some had hoped the federal government would decrease the ₤ 100 stake on Tuesday, but ministers chose instead to speak with on a variety of options.

An excellent bet? The fixed-odds debate
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Mr Corcoran said on Wednesday: "We have actually sought long-term certainty and clarity. Yesterday does not provide that, however hopefully we will arrive at the next phase."

The assessment closes on 23 January, however Mr Corcoran stated there might be some "drift" before the federal government makes a final choice.

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

He has previously composed to the government stating the stakes on fixed-odds makers need to be cut to "₤ 10 or less" since the dispute has actually ended up being "so harmful", according to the Financial Times, external.

The machines created more than ₤ 1.8 bn in revenue for the market last year, assisting to support growth for bookmakers.

According to the federal government's consultation files, external, cutting the stake to ₤ 50 would cost business ₤ 35m, however slashing it to ₤ 2 would see ₤ 639m lost over the yohaig code next 10 years.

The Association of British Bookmakers said on Tuesday the onus was on the gaming market to assist cut issue betting.

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

Bookies brace for possible sales hit

31 October 2017
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