Every FOBT Generates £1000 In Weekly Profits
The debate of fixed odds betting terminals or what is dubbed as the “crack cocaine” of the gambling world is always in the headlines. The effects of FOBTs has been covered extensively by our team over the years and despite government promises of a crackdown, the numbers still tell a very different story. A report on the Daily Mail reveal how each of these high speed betting machines generates over a £1000 in profits per week for bookmakers.
One of the main sticking points about the FOBTs is the fact that players can wager up to £100 on a spin of roulette every 20 seconds. Currently there are over 35,500 FOBTs around Britain which mostly belong to the largest UK bookmakers William Hill land Ladbrokes. Just to put things in perspective Ladbrokes has currently almost 9000 machines with weekly profits around the £936 mark per machine, in 2014. Only a decade earlier profits were around half of that.
As of now British punters lose around £1.7 billion on the £46 billion they wager annually. While some of the measures proposed to combat this growing problem included lowering the maximum bids from £100, the Government is still yet to lower this and there seems no signs of these machines disappearing any time soon.