Paddy Power Betfair Urges Decision On Fixed-odds Machines

Paddy Power Betfair advises decision on fixed-odds devices

1 November 2017
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Betting firm Paddy Power Betfair has actually revealed frustration that a government evaluation did not make a decision on fixed-odds wagering terminals.
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The company's primary executive Breon Corcoran stated the yohaig code review, launched on Tuesday, stopped working to provide "clarity".
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Ministers proposed that bets on the devices be cut from a maximum of ₤ 100 a spin to someplace in between ₤ 2 and ₤ 50.

Mr Corcoran has previously required the stakes to be slashed to resolve extensive social concerns.
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Campaigners argue the electronic devices feed betting addictions and can see gamers lose big amounts of cash really rapidly.

Some had hoped the yohaig code federal government would lower the ₤ 100 stake on Tuesday, but ministers decided rather to consult on a range of choices.
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A good bet? The fixed-odds controversy

Mr Corcoran said on Wednesday: "We have looked for long-lasting certainty and clearness. Yesterday does not deliver that, but hopefully we will arrive at the next phase."
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The assessment closes on 23 January, however Mr Corcoran said there might be some "drift" before the government makes a final choice.
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Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in device video gaming in the three months to the end of September. Group income rose by 9% to ₤ 440m.
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He has formerly composed to the government saying the stakes on fixed-odds machines need to be cut to "₤ 10 or less" because the argument has become "so harmful", according to the Financial Times, external.

the yohaig code makers generated more than ₤ 1.8 bn in revenue for the industry in 2015, helping to support development for bookies.
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According to the federal government's assessment files, external, cutting the stake to ₤ 50 would cost companies ₤ 35m, but slashing it to ₤ 2 would see ₤ 639m lost over the next ten years.

The Association of British Bookmakers stated on Tuesday the onus was on the yohaig code to assist cut issue gaming.
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Fixed-odds maximum bet 'could drop to ₤ 2'

Bookies brace for possible sales hit

31 October 2017