William Hill Warns Prime Minister Over FOBTs Rule Change
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William Hill cautions prime minister over FOBTs rule change
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15 May 2018

ByDominic O'Connell Today Programme Business Correspondent

The chairman of bookie William Hill has actually cautioned the prime minister his firm dangers being bought by a foreign rival if it is weakened by brand-new wagering rules.

In a letter to Theresa May, Roger Devlin said changes to the amount that can be bet on High Street betting machines might strike tasks and earnings.

The government is expected to reveal imminently a final decision on its review fixed-odds wagering terminals.
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He proposed harder guidelines on adverts and a levy to assist issue gamblers.

Currently, fixed-odds wagering terminals (FOBTs) allow gamers to stake as much as ₤ 100 every 20 seconds.
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An evaluation's interim findings suggested cutting the yohaig code maximum stakes to ₤ 30, however there have been reports that the quantity might be cut to just ₤ 2.
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Anti-gambling advocates, who have dubbed the fixed-odds makers the "crack cocaine" of betting, support the move.
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Bookies, however, have actually cautioned that such a cut would result in the closure of thousands of outlets, a big decrease in tax paid to the Treasury, and would have ripple effects on the horse racing industry.

'Catastrophic'

Bookmakers support horse racing through a market levy and offering prize money.
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Mr Devlin's letter, initially reported by Sky News and seen by the BBC, said UK gambling was "exceptionally well managed".

He composed: "Sadly, I fear that your government will make a choice that is unneeded and lacking in proof - a decision that will also be disastrous for a retail betting industry using over 40,000 people."

"Consolidation within our sector continues and I would also not desire to see the impact of an out of proportion ... result being a consider the name of William Hill being added to the list of business now in foreign ownership," he said.

Mr Devlin said William Hill supported a ban on gambling marketing on television before the watershed, and a levy on the industry to spend for education and of problem bettors.
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Mr Devlin, who was appointed chairman of the bookie previously this promotion code year, is also chairman of the housebuilder Persimmon, which has been racked with debate over a generous executive pay plan.
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Shares in William Hill have actually been struck hard by worries that fixed-odds stakes would be cut, falling greatly last month on reports that the chancellor, Philip Hammond, would not oppose the relocation.

On Monday, though. William Hill shares jumped after the yohaig code US Supreme Court bied far a judgment that would allow states to legalise sports wagering, opening a big prospective brand-new market to betting business.

High stakes for fixed-odds betting machines
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