2 Pound Fobt
The Association of British Bookmakers (ABB) took aim at the Government’s decision on Thursday to cut stake limits on fixed-odds betting terminals (FOBT) fro £100 to £2.
مشاهدة وتحميل DOG POUND Mom's scene مجانًا ، DOG POUND Mom's scene مشاهدة عبر الإنترنت. Easy on Easy off. Learn how to convert from pounds to kilograms and what is the conversion factor as well as the conversion formula. 1.2 kilograms are equal to 0.544311 pounds. Keir Mudie: Bookies set to lose their fight against £2 spin limit on 'crack cocaine' FOBT betting machines The Sunday People's newest political columnist on the need for the Tories to crack down. Gary talks about his experience doing his first FOBT (faecal occult blood test) - a screen for bowel cancer.
The decision was just one part of a wide-sweeping crackdown on gambling, with the age limit of playing the National Lottery games set to be reviewed and a multimillion-pound advertising campaign promoting responsible gambling, supported by the industry and GambleAware, also to be launched later this year.
The Government said it will fund the anti-gambling activity through an increase in remote gaming duty and pledged to work with the gambling sector to ensure it has sufficient time to introduce the stake reduction and technological changes.
Prominent bookmakers had campaigned in the lead-up to the decision by suggesting that they would be susceptible to job losses and foreign takeovers if the stake was cut.
It was a familiar refrain on Thursday, but the ABB also warned that those who play FOBTs could move in to an online environment.
'This is a decision that will have far-reaching implications for betting shops on the high street,” the umbrella organisation said in a statement.
'We expect over 4,000 shops to close and 21,000 colleagues to lose their jobs.
'The independent expert advice warned that this would simply shift people, the majority of whom gamble responsibly, to alternative forms of gambling where there is less chance of human interaction and its impact on problem gambling levels is far from certain.
'As the industry adjusts its business model, those shops that do survive will continue to provide a safe place to gamble with staff interaction and industry leading responsible gambling measures and support British sport.'
Tony Franklin, a former betting addict and campaigner for the Gambling Hurts pressure group, told the BBC’s Today Programme: 'Today's announcement by the Government is a victory for common sense and a victory for all the problem gamblers and their families who have been impacted by fixed-odds betting terminals on the High Street.
'I hope that this decision sends shivers across the industry, that if you extract money from the poor and vulnerable you will ultimately be held accountable.'
Fobt 2 Pound Stake
Brian Chappell has been a tireless campaigner against FOBTs under his Justice for Punters organisation and told the Press Association: 'This is a huge decision, because the Government has finally recognised that problem gambling is a public health issue that is costing more than the tax income received from gambling.
'These machines were introduced through the back door on to UK high streets. They've been trouble ever since. This decision means the betting shop environment will become safer for staff and customers.'
Liberal Democrat FOBTs campaigner Lord Foster, said: 'It has taken the Government an eternity to reach this decision but it is finally the right one.
'Reducing the stake to £2 provides more protections to those that can easily get addicted to these machines.
'This is a victory for more responsible gambling and will hopefully reduce the damage that these machines are proven to do.'
Swansea East MP Carolyn Harris, one of the leaders of the parliamentary campaign for reform of laws governing FOBTs, said she was 'really delighted' by the announcement.
'This is something I, and many others, have long campaigned for,' said Ms Harris.
2 Pound Foam
'FOBTs have caused too much social harm and huge losses for those who can least afford it. Last year there were more than 230,000 individual sessions in which a user lost more than £1,000.
'These machines have increased the risk of problem gambling which carries a very significant social and economic cost.'This was morally the right decision to make and it is victory for all those people whose lives have been blighted by these toxic machines.'
The Gambling Commission conducted a review of FOBT activity in March and recommended that while FOBT slot stakes should be limited to £2, non slot games such as roulette should be merely reduced from £100 to ‘below £30’ if it was to have a significant effect on the potential for players to lose large amounts of money in a short space of time.
At the heart of the advice was an aim to reduce the risks that consumers, especially those that are vulnerable, face from gambling.
Neil McArthur, chief executive of the Gambling Commission, said: 'We're pleased the Government has supported a comprehensive package of measures to protect consumers, and that this includes a substantial stake cut.
'Whilst we welcome the reduced stake, that alone will not be enough to address the risks of harm that can come from all forms of gambling.
'That is why we will continue to act in other ways to reduce those risks - including delivering enhanced consumer protection for online gambling in the areas of customer verification, fairness and interaction, implementing strong penalties for businesses who breach advertising guidelines, and reviewing gambling product characteristics to identify whether particular features pose greater risk of harm than others.'
The chief executive of amusement machine industry trade body Bacta, John White, said: 'We warmly welcome this announcement.
'A stake reduction to £2 has long been needed to protect consumers from the harm caused by FOBTs.
'This is a decision that puts player protection first, and will allow the gambling industry as a whole to move forwards and create a safer, more socially responsible environment for consumers.
'It is a testament to the wide-ranging campaign for stake reduction from concerned individuals and organisations across politics, public health and the wider gaming sector. The Government has made the right decision and it now needs to be implemented without delay.'
Social media reaction to Thursday's decision to cut stakes to £2:
Stupid decision by the #FOBT . As someone who has insight from both sides. It won't help gambling addiction as they will move online. But will result in betting shops shutting & job losses.
— Chelsea Davis (@19Chelsea94) May 17, 2018I’m no fan of #fobt machines but how can you reduce the max stake to £2 when the same customer can spend £10 per hit on a #NationalLottery scratch card? Why not match it & tax the excess revenue to support problem gambling initiatives? @BBCNews@BBCBreakfast@EGRIntel
— Harry Lang (@FactDeJour) May 17, 2018Great news on #FOBT a £2 limit was absolutely the right thing to do. Congratulations @MattHancock@tracey_crouch & all those campaigning for this important change to the gambling industry. Look forward to this being implemented ASAP & time online sector paid greater share
— Sarah Wollaston MP (@sarahwollaston) May 17, 2018Absolutely delighted that this is now official. #FOBT stakes being reduced to £2. This is the correct decision and I welcome it.
— Stuart McMillan MSP (@StuMcMillanSNP) May 17, 2018This FOBT stake reduction isn’t a good thing imo, I know we don’t that’s them in Ireland but it’s going to affect 000s of shops and jobs in the UK #FOBT
— Richie Lawlor (@RichieLawlor) May 17, 2018Excellent news about #FOBT gambling. Reducing the maximum stake will help provide vital protection for families and individuals across our country. It is the right decision by this Government.
— Stephen Morgan MP (@StephenMorganMP) May 17, 2018Please explain!!
1- why £2
2- now forcing everyone who likes them to move online and use a DEBIT OR CREDIT CARD which surely is going to be worse for people as they can bet all night and potentially get no sleep!
3- what about the 4,000 shops that will be closing?? #FOBT
Pleased to see the new laws regarding #FOBT. These machines exploit the money and mental health of those with gambling problems. Now we must focus on online betting and casinos to prevent a very hidden problem emerging 👊
— Laura (@lauramccue_) May 17, 2018@VictoriaLIVE if premium lager was reduced in strength an alcoholic would drink more or switch drinks. The same with gambling addiction - gamble longer or swap product. I've never played an #FOBT but caused chaos for 30 years with #gamblingaddiction now almost 5yrs in recovery.
— Mick Cooper (@theserenityman) May 17, 2018People DO NOT have to play if they don’t want to. There is no advertising of #FOBT in shop windows, people enter solely out of choice. If people fail to control themselves then there are measures they CAN take
— Hayley (@Hayleyrixon1) May 17, 2018A simple message to the bookies and gambling lobby on FOBTs today: if your entire business model is based on exploiting addiction and making vulnerable people destitute on machines that are fixed against them then it isn’t a business model, it is a model of vulture capitalism.
— David Lammy (@DavidLammy) May 17, 2018No recommendation
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After a lengthy review, the UK Government has announced a new cap of £2 per spin on fixed odds betting terminals (FOBTs).
GVC expects this to reduce earnings before interest, tax, depreciation and amortisation by £160m in the first full year following the change. However, it is also confident of mitigating some of these lost earnings such that the longer-term impact is around £120m. It expects to retain a profitable and cash generative UK High Street business.
The result means the CVRs issued to Ladbrokes Coral shareholders at the time of the merger will have zero value.
After initially falling, the shares recovered to rise slightly on the day of the announcement.
Our view
Just as a merger between Ladbrokes and Coral to create the UK's biggest high street bookmaker was bedding in, GVC swooped to acquire the combined group.
The scale of the deal makes it all-important to the group's near-term prospects.
GVC as an online sports betting and gaming specialist, while Ladbrokes Coral's 3,500+ shops gave it more of a bricks and mortar focus. They also differ geographically. GVC has an international focus while the lion's share of Ladbrokes Coral's revenue is generated in the UK. This should mean the two dovetail nicely. Ladbrokes shareholders become less tied to a struggling UK high street, while GVC's exposure to unregulated markets falls.
The question is whether the group can pull it off.
GVC is something of a serial accumulator, and the successful integration of bwin.party means recent form has been good. The group anticipates meaningful earnings growth straight off the bat and says at least £100m of cost savings are there for the taking. It's good to see this remain unchanged even with the headwind of a lower maximum stake on FOBTs.
The takeover was a mixed cash and share deal, and net debt will rise to close to 3 times cash profits. However, GVC should be capable of generating sufficient cash flow to pay off the extra debts soon enough, while still paying a dividend. The prospective yield is currently 3.6%.
There's potential for GVC to expand even further, enticed by new markets coming online. The group expects the German market to open up soon, and the US is opening its door to sports betting. This provides a huge opportunity.
Around $150bn is thought to be wagered on the underground market every year, and this will surely rise as barriers to betting are removed. For the UK bookies, the chance to tap into this huge potential could mean lost machine revenues are more than replaced.
But the road ahead may not be entirely smooth. The change to FOBT stakes is just the latest example of how things tend to get tougher rather than easier when countries are fully regulated.
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