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William Hill warns prime minister over FOBTs guideline change
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15 May 2018
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ByDominic O'Connell Today Programme Business Correspondent

The chairman of bookie William Hill has warned the yohaig code prime minister his firm dangers being purchased by a foreign rival if it is compromised by brand-new betting guidelines.

In a letter to Theresa May, Roger Devlin said modifications to the quantity that can be bet on High Street betting machines might strike tasks and revenues.

The government is expected to reveal imminently a last choice on its evaluation fixed-odds wagering terminals.

He proposed tougher guidelines on adverts and a levy to assist issue gamblers.
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Currently, fixed-odds wagering terminals (FOBTs) allow players to stake as much as ₤ 100 every 20 seconds.

A review's interim findings recommended cutting the maximum stakes to ₤ 30, however there have been reports that the amount might be cut to simply ₤ 2.
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Anti-gambling advocates, who have dubbed the fixed-odds machines the "fracture cocaine" of gambling, support the relocation.

Bookies, nevertheless, have alerted that such a cut would result in the closure of thousands of outlets, a big decrease in tax paid to the Treasury, and would have ripple effects on the horse racing industry.
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'Catastrophic'

Bookmakers support horse racing through a market levy and offering reward cash.

Mr Devlin's letter, first reported by Sky News and seen by the BBC, stated UK gaming was "incredibly well managed".

He composed: "Sadly, I fear that your federal government is about to decide that is unnecessary and lacking in proof - a decision that will also be disastrous for a retail wagering industry using over 40,000 individuals."

"Consolidation within our sector continues and I would likewise not desire to see the effect of a disproportionate ... result being an aspect in the name of William Hill being included to the list of business now in foreign ownership," he stated.

Mr Devlin stated William Hill supported a ban on gambling marketing on television before the watershed, and a levy on the industry to pay for education and treatment of problem bettors.

Mr Devlin, who was designated chairman of the bookie previously this promotion code year, is likewise chairman of the housebuilder Persimmon, which has been racked with debate over a generous executive pay scheme.

Shares in William Hill have been hit hard by fears that fixed-odds stakes would be cut, falling sharply last month on that the chancellor, Philip Hammond, would not oppose the relocation.
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On Monday, however. William Hill shares leapt after the US Supreme Court bied far a judgment that would allow states to legalise sports wagering, opening a big prospective brand-new market to betting business.

High stakes for fixed-odds wagering devices

12 May 2018

Bookmakers hit by harder wager limitation fears

24 April 2018
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Betting maker wagers set for ₤ 30 limitation

19 March 2018
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