Politics

Politics: Highest stake on betting terminals slashed to £2 in win for campaigners

THE most stake on fastened odds betting terminals will is to be be dramatically slashed to only £2 in a significant victory for playing campaigners.

Tradition Secretary Matt Hancock’s announcement comes after a last-ditch plea from betting chiefs to Theresa May failed.

Tradition Secretary Matt Hancock introduced the very best stake for fixed-odds slot machines in bookes will probably be lower to £2

 

It is going to additionally draw to an finish a mammoth three year-long Cupboard combat over what do in regards to the bookie store machines, dubbed the crack cocaine of excessive avenue playing.

The powerful transfer will delight campaigners, who’ve waged an extended combat to chop the stake restrict from £100 after insisting the machines destroyed lives.

Chancellor Philip Hammond opposed a £2 stake, fearing he’ll lose a lot of the £450m a yr taken in Machine Gaming Obligation – which is 25 per cent on the full £1.8bn a yr blown on FOBTs.

The Treasury wished the utmost stake diminished from to £20, and was joined by betting store bosses who warned warned of hundreds of job losses and store closures.

 

Campaigners have waged an extended combat to chop the stake restrict from £100 after insisting the machines have destroyed lives

However the PM finally sided with Mr Hancock and Sports Minister Tracey Crouch, leaving Mr Hammond remoted.

No10 additionally feared a big Tory backbench insurrection over the difficulty.

A senior authorities supply stated: “Theresa was on the fence for some time, however when she got here off it in favour of going for £2 it was throughout for Hammond and he needed to give in.

“The numbers within the Commons determined it.”

John White, the CEO of amusement business group BACTA – who’ve campaigned towards FOBTs – stated: “If the stake has been diminished to £2, this can be a terrific win that pays testomony to the wide-ranging marketing campaign for stake discount from involved people and organisations throughout politics, public well being and the broader gaming sector.

Kentucky Derby gambler wins £885,000 on a easy £13 wager

 

 

“We warmly welcome this announcement because it places participant safety first, and can enable the playing business as an entire to maneuver forwards and create a safer, extra socially accountable setting for shoppers.

“We hope that is applied at once.”

The price of addictive playing to society has been put at £1bn.

Excessive avenue big Betfred stated this week that it could axe as many as 4,500 jobs if the utmost stake went right down to £2.

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