Displaying items by tag: betting

The maximum stake on fixed-odds betting terminals (FOBTs) will be reduced to £2 under new rules unveiled by the government. Currently, people can bet up to £100 every 20 seconds on electronic casino games such as roulette. Culture secretary Matt Hancock called the machines ‘a very serious social blight’. FOBTs generate £1.8bn in revenue a year for the betting industry, according to the Gambling Commission, and taxes of £400m for the Government. A high proportion of those seeking treatment for gambling addiction identify FOBTs as their main form of gambling. Matt Zarb-Cousin, who was previously addicted to them, commented. ‘It's no exaggeration to call FOBTs the crack cocaine of gambling. If we had a gambling product classification like that of drugs, FOBTs would be Class A.’ See also: