Paddy Power Betfair Urges Decision On Fixed-odds Machines
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Paddy Power Betfair advises choice on fixed-odds machines
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1 November 2017

Betting company Paddy Power Betfair has revealed aggravation that a government review did not decide on fixed-odds wagering terminals.
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The firm's primary executive Breon Corcoran said the evaluation, released on Tuesday, failed to offer "clearness".
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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 formerly required the stakes to be slashed to deal with extensive social concerns.

Campaigners argue the electronic makers feed betting addictions and can see players lose large amounts of cash extremely quickly.

Some had hoped the federal government would lower the ₤ 100 stake on Tuesday, but ministers decided rather to seek advice from on a series of alternatives.

A great bet? The fixed-odds controversy

Mr Corcoran said on Wednesday: "We have sought long-lasting certainty and clarity. Yesterday does not provide that, however ideally we will get there at the next stage."

The consultation 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% increase in machine video gaming in the 3 months to the end of September. Group profits increased by 9% to ₤ 440m.

He has previously composed to the government saying the stakes on fixed-odds devices should be cut to "₤ 10 or less" because the dispute has become "so poisonous", according to the Financial Times, external.

The devices produced more than ₤ 1.8 bn in revenue for the industry last year, helping to support development for bookmakers.
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According to the yohaig code 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.
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The Association of British Bookmakers stated on Tuesday the onus was on the to assist cut issue betting.
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Fixed-odds maximum bet 'could drop to ₤ 2'
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Bookies brace for possible sales struck

31 October 2017
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