Report Shows Profits From FOBTs Continue to Rise
The ongoing controversy of what is dubbed at the “crack cocaine” of the gambling industry in the UK is not dying down. The Daily Mail published some interesting facts and figures which show just how much revenues UK bookies are earning from these high speed gambling machines. The number that stands out the most is definitely the figure of £1.7 billion. This is the annual amount that UK players are losing to FOBTs.
The two largest bookmakers William Hill and Ladbrokes continue to see major profits from The FOBTs. Ladbrokes for example are earning about £996 in weekly profits which is up from the £913 in 2013. Ladbrokes alone has nearly 9000 of these money gobbling machines. They also expect a further 5 percent rise in 2015 from FOBTs. There are about 33,000 machine located throughout the UK with over half belonging to Ladbrokes and William Hill. The remaining other big names like Paddy Power, Jennings and Coral.
The ongoing efforts to stop the rising problem of these machines include reducing the £100 maximum stake to £2. The issue of FOBTs has become a political football with politicians like blaming them for moral decay and preying on the most vulnerable members of society.