William Hill cautions prime minister over FOBTs guideline modification

15 May 2018
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ByDominic O'Connell Today Programme Business Correspondent
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The chairman of bookie William Hill has actually alerted the prime minister his firm threats being bought by a foreign competitor if it is weakened by brand-new betting rules.

In a letter to Theresa May, Roger Devlin stated modifications to the quantity that can be bet on High Street gambling makers could strike jobs and profits.

The federal government is anticipated to reveal imminently a decision on its evaluation fixed-odds wagering terminals.

He proposed tougher guidelines on adverts and a levy to assist issue gamblers.

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

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

Anti-gambling campaigners, who have dubbed the fixed-odds makers the "crack drug" of gaming, support the move.
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Bookies, however, have actually alerted that such a cut would lead to the yohaig code closure of thousands of outlets, a huge reduction in tax paid to the Treasury, and would have ripple effects on the horse racing industry.
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'Catastrophic'

Bookmakers support horse racing through an industry levy and offering cash prize.

Mr Devlin's letter, first reported by Sky News and seen by the BBC, stated UK betting was "incredibly well managed".
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He wrote: "Sadly, I fear that your federal government will decide that is unnecessary and lacking in evidence - a decision that will also be disastrous for a retail betting market utilizing over 40,000 individuals."

"Consolidation within our sector continues and I would also not wish to see the impact of a disproportionate ... result being an element in the name of William Hill being contributed to the list of companies now in foreign ownership," he stated.
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Mr Devlin said William Hill supported a ban on betting marketing on tv before the watershed, and a levy on the industry to pay for education and treatment of issue gamblers.

Mr Devlin, who was designated chairman of the bookmaker earlier this promotion code year, is likewise chairman of the housebuilder Persimmon, which has been racked with debate over a generous executive pay plan.

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

On Monday, however. William Hill shares leapt after the US Supreme Court handed down a judgment that would enable states to legalise sports betting, opening up a big potential new market to .
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High stakes for fixed-odds betting machines
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12 May 2018

Bookmakers struck by harder wager limit fears

24 April 2018
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Betting machine wagers set for ₤ 30 limit

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