Paddy Power Betfair urges choice on fixed-odds devices

1 November 2017

Betting company Paddy Power Betfair has expressed aggravation that a federal government evaluation did not make a decision on fixed-odds wagering terminals.

The firm's chief executive Breon Corcoran stated the review, launched on Tuesday, stopped working to bet9ja's welcome offer "clearness".

Ministers proposed that bets on the makers be cut from an optimum of ₤ 100 a spin to someplace between ₤ 2 and ₤ 50.
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Mr Corcoran has formerly called for the stakes to be slashed to attend to extensive social issues.

Campaigners argue the electronic machines feed betting addictions and can see gamers lose big amounts of money really quickly.

Some had actually hoped the federal government would decrease the ₤ 100 stake on Tuesday, however ministers decided instead to speak with on a variety of options.
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A great bet? The fixed-odds debate
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Mr Corcoran stated on Wednesday: "We have looked for long-term certainty and clearness. Yesterday doesn't provide that, but ideally we will get there at the next stage."
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The assessment closes on 23 January, however Mr Corcoran stated there could be some "drift" before the government makes a decision.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in machine gaming in the 3 months to the end of September. Group income increased by 9% to ₤ 440m.

He has actually previously written to the government saying the stakes on fixed-odds devices must be cut to "₤ 10 or less" because the argument has actually become "so harmful", according to the Financial Times, external.
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The machines created more than ₤ 1.8 bn in revenue for the market in 2015, helping to support development for bookies.
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According to the federal government's assessment files, 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 Association of British Bookmakers said on Tuesday the onus was on the gaming industry to help cut issue gaming.
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optimum bet 'might drop to ₤ 2'

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