The UK Gambling Commission have warned that players of Fixed Odds Betting Terminals may turn to other forms of gambling from Monday, which is the day that the new £2 maximum stake limit on FOBT’s comes into play.
From Monday, April 1st, all fixed odds betting terminals maximum stakes will be reduced from the current £100 a bet to £2 a bet, as a result in the change of legislation governing their use.
The Chief Executive of the UKGC, Neil McArthur, is concerned that those players of FOBTs who are addicted to them, may take up other forms of gambling after the £2 limit comes in. McArthur has already written to bookmakers in advance of the new limit, reminding them of their responsibilities to consumers.
McArthur also said: “Together with Government and the industry we must continue our ongoing work to make the whole industry safer – this includes continuing to make progress with making other products safer, as customers may move to gamble in other ways. It’s imperative that operators invest in and use data, technology and measures to identify harmful play and can step in to protect players when needed. They should be innovating to protect their customers, as much as they do to make a profit.”
Speaking about the new £2 maximum bet limit on the terminals, Jeremy Wright, Secretary of State for Digital, Culture, Media and Sport, said: “Reducing the potential loss per spin from £100 to £2 is a significant step forward in protecting vulnerable people. The Government’s actions and ambitions stretch much further and we are looking at further treatment of those who have suffered from gambling-related harm, whether gambling on credit should be limited and considering what actions are necessary to tackle problem gambling online.”