FOBT Minimums Will Be Reduced To £2 After Years Of Debate
The debate over fixed odd betting terminals or what many term the “crack cocaine of Gambling” is coming to a head it seems. After years of lobbying from both sides there are reports that an agreement has been reached between the Treasury and Downing Street. For years anti FOBT campaigners have been lobbying to reduce the maximum bet from the current £100 to anything as low as £2.
The public battles have been fierce and there have been endless commissions and reports that have suggested lowering the limit to anything from £50 downwards. The current £2 limit is a whopping 98% reduction from the current state and is set to have major financial implications both on the gambling firms who rely on these cash machines as well as the punters will supposedly be protected from these addictive machines.
Only yesterday was the decision to lower the limits delayed due to local elections on May 3. The fear amongst the government was filling the massive tax revenues holes that will result from the reduction.
It should be noted that even the Gambling Commission recommended the limit be reduced to £30 but public campaigners have won the battle. Outspoken voices like the founder of group Justice for Punters, Brian Chappel was delighted at the news and said,” If they have decided to go down to £2 that would be absolutely brilliant. These machines are designed to be addictive – they should never have been allowed on the high street where they attract people who are desperate.’”
The effects on the major gambling firms will be devastating as each FOBT earns around £50k per year on average for bookmakers.