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William Hill cautions prime minister over FOBTs guideline change
15 May 2018
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ByDominic O'Connell
Today Programme Business Correspondent
The chairman of bookie William Hill has actually cautioned the prime minister his firm risks being bought by a foreign rival if it is damaged by brand-new betting guidelines.
In a letter to Theresa May, Roger Devlin stated changes to the amount that can be banked on High Street betting devices might hit tasks and revenues.
The federal government is anticipated to announce imminently a decision on its review fixed-odds wagering terminals.
He proposed harder guidelines on adverts and a levy to help issue gamblers.
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 maximum stakes to ₤ 30, but there have been reports that the quantity could be cut to simply ₤ 2.
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Anti-gambling advocates, who have actually called the fixed-odds devices the "crack drug" of betting, support the move.
Bookies, nevertheless, have actually cautioned that such a cut would lead to the closure of thousands of outlets, a big reduction in tax paid to the Treasury, and would have knock-on results on the horse racing market.
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'Catastrophic'
Bookmakers support horse racing through a market levy and offering reward money.
Mr Devlin's letter, first reported by Sky News and seen by the BBC, stated UK betting was "very well controlled".
He composed: "Sadly, I fear that your federal government is about to decide that is unneeded and doing not have in evidence - a choice that will also be disastrous for a retail wagering market utilizing over 40,000 people."
"Consolidation within our sector continues and I would also not want to see the effect of an out of proportion ... outcome being a factor in the name of William Hill being included to the list of business now in foreign ownership," he stated.
Mr Devlin said William Hill supported a restriction on gambling advertising on television before the watershed, and a levy on the market to spend for education and treatment of issue gamblers.
Mr Devlin, who was selected chairman of the bookmaker earlier this promotion code year, is also chairman of the housebuilder Persimmon, which has been racked with debate over a generous executive pay scheme.
Shares in have actually been struck hard by worries that fixed-odds stakes would be cut, falling dramatically last month on reports that the chancellor, Philip Hammond, would not oppose the move.
On Monday, though. William Hill shares leapt after the yohaig code US Supreme Court handed down a ruling that would permit states to legalise sports wagering, opening up a big possible new market to betting companies.
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William Hill Warns Prime Minister Over FOBTs Rule Change
nadinevkg42305 edited this page 2025-10-19 10:41:01 +02:00