By James Simons-
The gambling industry faces thousands of job losses following new FOBT restrictions that could see 4,500 stores shutting down and 21,000 jobs at risk.
The regulator today forced two bookmakers to take down two new roulette-styled games, after they bypassed the latest regulations in the fixed-odds betting terminals. Bookmakers are always looking for new inventions to enrich themselves at the expense of gambling addicts, but the British government is clamping down on their greedy and selfish business practices.
The offending bookmakers were found violating new rules after a reduction in FOBT stakes from £100 to £2 was introduced on Monday in an honourable attempt to curb addiction to gambling, and minimise the huge losses and accompanying trauma experienced by addicts. But implementation of the rules will reduce revenues to bookmakers and lead to huge losses in employment to many staff across the Uk. It is a worthy price to pay in exchange of safeguarding the mental health of gamblers whose lives could spiral downwards if they continue to suffer huge losses as a result of their gambling habits.
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NEW
The new games called Pick ‘n’ 36 and Virtual Cycling from book makers Paddy Power Betfair and Betfred, were introduced on Monday, the same day as the FOBT restrictions came in. Betfred and Paddy Power have been condemned by critics who have accused them of trying to flout the rulesThe new roulette-styled games allow gamblers to place bets with a maximum stake of £500 in some cases.
The new regulations are aimed at bringing down the stake from £100 to £2 in the so-called “crack cocaine” betting machines. William Hill, which was also about to launch a new game, has also been warned and has reportedly abandoned its plans to release the new game.
Richard Watson, executive director for enforcement at the Commission, said: “We have been absolutely clear with operators about our expectations to act responsibly following the stake cut implementation this week.
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“We have told operators to take down new products which undermine the changes, and we will investigate any other products that are not within the spirit and intention of the new rules.’’
Sports minister Mims Davies said: “We cut FOBT stakes to £2 to protect vulnerable people from gambling-related harm, and operators should respect both the letter and the spirit of that change.
“We are watching very closely to see how the industry reacts to this measure and will not hesitate to act if we see evidence of harm.
Betfred said: “This week betting shops have gone through a seismic change and many will no longer be viable given the new restrictions on Fixed Odds Betting Terminals.
“In an attempt to grow our over the counter business, we’ve therefore introduced a number of special offers on a wide range of sports, and have also revamped our virtual channel with new virtual horse-racing and a new virtual cycling game. We’ve taken down Virtual Cycling to allow further discussion with the Gambling Commission.”
A Paddy Power spokesman said: “We offer our retail customers a range of number-based betting products and this game was introduced as part of a short trial in a selection of shops. This trial concluded earlier today and we will now assess the customer response and feedback before deciding whether to launch it more widely.”
Launch it more widely? Excuse me mate, you can’t launch it at all!
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