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

Paddy Power Betfair urges choice on fixed-odds makers

1 November 2017

Betting firm Paddy Power Betfair has revealed frustration that a federal government evaluation did not decide on fixed-odds wagering terminals.
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The firm's primary executive Breon Corcoran said the evaluation, launched on Tuesday, stopped working to provide "clearness".
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Ministers proposed that bets on the makers be cut from a maximum of ₤ 100 a spin to somewhere in between ₤ 2 and ₤ 50.

Mr Corcoran has actually previously called for the stakes to be slashed to deal with extensive social issues.
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Campaigners argue the electronic machines feed betting dependencies and can see players lose big quantities of cash really rapidly.
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Some had actually hoped the government would reduce the ₤ 100 stake on Tuesday, but ministers chose rather to speak with on a variety of alternatives.
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A great bet? The fixed-odds controversy

Mr Corcoran said on Wednesday: "We have looked for long-lasting certainty and clearness. Yesterday does not deliver that, but ideally we will arrive at the next stage."
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the yohaig code assessment closes on 23 January, however Mr Corcoran stated there might be some "drift" before the yohaig code government makes a decision.
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Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in maker video gaming in the 3 months to the end of September. Group profits rose by 9% to ₤ 440m.
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He has previously written to the government stating the stakes on fixed-odds machines ought to be cut to "₤ 10 or less" since the argument has ended up being "so poisonous", according to the Financial Times, external.

The machines produced more than ₤ 1.8 bn in revenue for the market in 2015, helping to for bookies.

According to the government's assessment documents, external, cutting the stake to ₤ 50 would cost business ₤ 35m, but slashing it to ₤ 2 would see ₤ 639m lost over the next 10 years.
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the yohaig code Association of British Bookmakers said on Tuesday the yohaig code onus was on the betting industry to help cut issue betting.

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

Bookies brace for possible sales struck

31 October 2017
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