alerts prime minister over FOBTs rule modification
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15 May 2018
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ByDominic O'Connell Today Programme Business Correspondent

The chairman of bookmaker William Hill has actually cautioned the prime minister his firm threats being bought by a foreign competitor if it is weakened by new wagering guidelines.
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In a letter to Theresa May, Roger Devlin said changes to the amount that can be wagered on High Street gambling devices could strike jobs and revenues.
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The government is expected to announce imminently a decision on its evaluation fixed-odds betting terminals.

He proposed harder guidelines on adverts and a levy to help problem bettors.

Currently, fixed-odds wagering terminals (FOBTs) enable gamers to stake up to ₤ 100 every 20 seconds.

A review's interim findings suggested cutting the maximum stakes to ₤ 30, however there have been reports that the quantity might be cut to simply ₤ 2.

Anti-gambling advocates, who have actually called the fixed-odds machines the "crack drug" of betting, support the move.

Bookies, nevertheless, have actually alerted that such a cut would result in the closure of countless outlets, a huge decrease in tax paid to the Treasury, and would have knock-on results on the horse racing industry.

'Catastrophic'

Bookmakers support horse racing through a market levy and offering cash prize.

Mr Devlin's letter, initially reported by Sky News and seen by the BBC, stated UK gaming was "incredibly well managed".
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He wrote: "Sadly, I fear that your government will make a choice that is unnecessary and lacking in evidence - a decision that will also be devastating for a retail wagering industry utilizing over 40,000 individuals."
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"Consolidation within our sector continues and I would also not desire to see the impact of a disproportionate ... outcome being an aspect in the name of William Hill being contributed to the yohaig code list of business now in foreign ownership," he said.
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Mr Devlin said William Hill supported a ban on betting advertising on television before the watershed, and a levy on the market to spend for education and treatment of problem bettors.
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Mr Devlin, who was appointed chairman of the bookie previously this promotion code year, is likewise chairman of the housebuilder Persimmon, which has been racked with debate over a generous executive pay scheme.

Shares in William Hill have actually been struck hard by fears that fixed-odds stakes would be cut, falling sharply last month on reports that the chancellor, Philip Hammond, would not oppose the yohaig code relocation.

On Monday, though. William Hill shares leapt after the yohaig code US Supreme Court handed down a judgment that would allow states to legalise sports wagering, opening a huge prospective new market to gambling business.

High stakes for fixed-odds wagering devices
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