New FOBT Limit Could be Delayed Until 2020
The hottest topic in the iGaming world right now is the Government’s decision to limit the maximum stake on fixed-odds betting terminals (FOBTS) from £100 to £2, a decision that has been received well by campaigners for a safer gambling environment for vulnerable and problem gamblers.
However, it appears that the move may be delayed after The Times reported on a secret agreement that has been reached between UK bookmakers and Her Majesty’s Treasury to delay the change until April 2020.
Disappointment
The decision, which is rumoured to be able to generate a further £4 billion in gambling revenue, has been described as disappointing by anti-gambling campaigners.
The Government had said that the decision was vital in order for communities and players to be protected from gambling related harm, with the Department for Digital, Culture, Media, and Sport (DCMS) saying that the time limit on the change was expected to be no more than 12 months.
Software updates
It appears that bookmakers have managed to convince the HM Treasury that it would take two years for the necessary software updates to be made, and it is therefore expected that the roll out of the new limit will be delayed.
This is rumoured to have created concern in the DCMS, especially as machine manufacturers have stated that the necessary changes could be made in no longer than eight weeks, as opposed to the two years that has been stated by others.
The HM Treasury has mentioned many times that they hold concerns of the financial impact of the new maximum stakes on FOBTs, resulting in a swift decline in funds to public organisations which are focused on assisting with vulnerable gamblers.
It should be pointed out that most organisations in question have been supportive of the crackdown on FOBTs.