Paddy Power Betfair prompts choice on fixed-odds makers
1 November 2017
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Betting firm Paddy Power Betfair has actually expressed frustration that a federal government evaluation did not decide on fixed-odds betting terminals.
The firm's primary executive Breon Corcoran said the review, launched on Tuesday, stopped working to supply "clarity".
Ministers proposed that bets on the devices be cut from a maximum of ₤ 100 a spin to someplace between ₤ 2 and ₤ 50.
Mr Corcoran has previously required the stakes to be slashed to deal with prevalent social concerns.
Campaigners argue the electronic machines feed betting dependencies and can see gamers lose big quantities of cash really rapidly.
Some had actually hoped the government would decrease the ₤ 100 stake on Tuesday, but ministers chose rather to speak with on a variety of alternatives.
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A good bet? The fixed-odds controversy
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Mr Corcoran stated on Wednesday: "We have actually sought long-lasting certainty and clarity. Yesterday does not deliver that, but hopefully we will arrive at the next stage."
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The assessment closes on 23 January, but Mr Corcoran said there could be some "drift" before the federal government makes a last decision.
Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in maker video gaming in the yohaig code 3 months to the end of September. Group income rose by 9% to ₤ 440m.
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He has actually previously composed to the government stating the stakes on fixed-odds machines must be cut to "₤ 10 or less" since the debate has actually ended up being "so toxic", according to the Financial Times, external.
The machines produced more than ₤ 1.8 bn in revenue for the market last year, assisting to support development for bookmakers.
According to the government's assessment documents, external, cutting the stake to ₤ 50 would cost companies ₤ 35m, but slashing it to ₤ 2 would see ₤ 639m lost over the yohaig code next 10 years.
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The Association of British Bookmakers stated on Tuesday the yohaig code onus was on the betting market to help cut problem .
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31 October 2017
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Paddy Power Betfair Urges Decision On Fixed-odds Machines
arronrolleston edited this page 2025-10-18 14:25:34 +02:00