Paddy Power Betfair Urges Decision On Fixed-odds Machines

Paddy Power Betfair urges choice on fixed-odds devices
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1 November 2017

Betting company Paddy Power Betfair has revealed frustration that a federal government evaluation did not decide on fixed-odds wagering terminals.
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The firm's president Breon Corcoran said the evaluation, launched on Tuesday, stopped working to supply "clarity".
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Ministers proposed that bets on the yohaig code makers be cut from a maximum of ₤ 100 a spin to someplace between ₤ 2 and ₤ 50.

Mr Corcoran has actually formerly required the stakes to be slashed to attend to extensive social issues.
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Campaigners argue the electronic devices feed gambling dependencies and can see players lose large amounts of money extremely quickly.

Some had actually hoped the federal government would lower the ₤ 100 stake on Tuesday, but ministers chose instead to consult on a variety of options.

An excellent bet? The fixed-odds debate
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Mr Corcoran stated on Wednesday: "We have looked for long-lasting certainty and clarity. Yesterday doesn't provide that, however ideally we will arrive at the yohaig code next phase."
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The assessment closes on 23 January, however Mr Corcoran stated there could be some "drift" before the federal government makes a decision.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in in the three months to the end of September. Group income increased by 9% to ₤ 440m.

He has actually formerly composed to the federal government saying the stakes on fixed-odds devices should be cut to "₤ 10 or less" because the debate has become "so toxic", according to the Financial Times, external.
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The machines produced more than ₤ 1.8 bn in earnings for the market in 2015, assisting to support development for bookmakers.
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According to the 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 10 years.
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The Association of British Bookmakers said on Tuesday the onus was on the betting market to help cut problem gambling.

Fixed-odds optimum bet 'might drop to ₤ 2'

Bookies brace for possible sales hit

31 October 2017