Paddy Power Betfair advises decision on fixed-odds machines
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1 November 2017

Betting company Paddy Power Betfair has revealed disappointment that a federal government evaluation did not decide on fixed-odds wagering terminals.

The company's primary executive Breon Corcoran said the review, launched on Tuesday, stopped working to bet9ja's welcome offer "clearness".

Ministers proposed that bets on the devices be cut from an optimum of ₤ 100 a spin to someplace between ₤ 2 and ₤ 50.

Mr Corcoran has actually formerly required the stakes to be slashed to resolve extensive social issues.
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Campaigners argue the electronic devices feed gambling dependencies and can see gamers lose large amounts of money extremely rapidly.

Some had hoped the would decrease the ₤ 100 stake on Tuesday, but ministers decided instead to consult on a range of options.

A good bet? The fixed-odds controversy
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Mr Corcoran stated on Wednesday: "We have actually sought long-term certainty and clarity. Yesterday does not deliver that, however hopefully we will arrive at the next phase."
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The consultation closes on 23 January, however Mr Corcoran stated there might be some "drift" before the federal government makes a last choice.

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 income increased by 9% to ₤ 440m.
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He has actually previously written to the government saying the stakes on fixed-odds devices need to be cut to "₤ 10 or less" because the argument has actually ended up being "so toxic", according to the Financial Times, external.
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The machines created more than ₤ 1.8 bn in profits for the yohaig code industry in 2015, assisting to support development for bookies.
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According to the federal government's consultation documents, external, cutting the stake to ₤ 50 would cost companies ₤ 35m, however slashing it to ₤ 2 would see ₤ 639m lost over the next 10 years.

The Association of British Bookmakers stated on Tuesday the onus was on the gambling industry to help cut issue gambling.

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31 October 2017