paddy-power-betfair-urges-decision-on-fixed-odds-machines

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Paddy Power Betfair urges decision on fixed-odds devices
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1 November 2017
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Betting company Paddy Power Betfair has expressed disappointment that a government evaluation did not make a decision on fixed-odds wagering terminals.

the yohaig code company's primary executive Breon Corcoran said the review, released on Tuesday, failed to provide "clarity".

Ministers proposed that bets on the machines be cut from an optimum of ₤ 100 a spin to somewhere in between ₤ 2 and ₤ 50.

Mr Corcoran has actually previously required the yohaig code stakes to be slashed to deal with prevalent social concerns.

Campaigners argue the electronic devices feed betting addictions and can see players lose big quantities of money really rapidly.

Some had actually hoped the government would reduce the ₤ 100 stake on Tuesday, but ministers decided rather to speak with on a variety of alternatives.

An excellent bet? The fixed-odds debate

Mr Corcoran stated on Wednesday: "We have looked for long-term certainty and clarity. Yesterday doesn't deliver that, but ideally we will get there at the next phase."
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The assessment closes on 23 January, but Mr Corcoran said there might be some "drift" before the federal government makes a final choice.

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

He has previously composed to the federal government saying the yohaig code stakes on fixed-odds machines should be cut to "₤ 10 or less" due to the yohaig code fact that the dispute has actually become "so toxic", according to the Financial Times, external.

The makers generated more than ₤ 1.8 bn in profits for the industry in 2015, assisting to support growth for bookies.
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According to the government's assessment documents, external, the stake to ₤ 50 would cost companies ₤ 35m, but slashing it to ₤ 2 would see ₤ 639m lost over the yohaig code next ten years.
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The Association of British Bookmakers said on Tuesday the onus was on the gambling industry to assist cut issue gaming.
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Fixed-odds maximum bet 'might drop to ₤ 2'
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Bookies brace for possible sales struck

31 October 2017
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