UK’s FOBT limit on the way down to £2 in High Street offices
The UK government is resolved to go ahead with the introduction of a £2 maximum stake on Fixed Odds Betting Terminals (FOBT) in High Street betting offices.
The Minister of Sport and Civil Society, Tracey Crouch, announced the reduction of the maximum stakes of High Street betting offices to £2 to help compulsive gamblers this week. She added that there are also plans that will ensure online gambling operators implement and enforce spending limits on customers until thdy have successfully conducted affordability checks on costumers. This is a way to prevent vulnerable gamblers from moving from High Street FOBTs to online casinos
The implementation of the new law would be a huge reduction from the previous £100 maximum stake for High Street FOBTs. This will affect tax revenue mobilization from the gambling industry. To address this, Remote Gambling Duty levied on online operators will increase.
Best online bookies for UK punters
#1 | Claim a 50% deposit bonus up to the value of USD $250 |
|
> Review | Bet Now | ||
Claim a 50% deposit bonus up to the value of USD $250 |
The Fixed Odds Betting Terminals (FOBTs) are categorised in different classes in terms of where they are situated and how much can be wagered. The (B1) are mostly found in casinos, (B2) in High Street betting offices and the (B3) found in game arcades. The classes come with their own stake and pay out limits. The B2 has a maximum limit of £100, which many campaigners have advocated to be reduced to prevent addicted gamblers from losing a lot of money. This is big, compared to the £5.00 by the B1 casino FOBTs.
The reduction will have a negative effect both on revenue mobilization by the government and bookmakers. The UK´s Department for Digital, Culture, Media and Sport (DCMS), states that the bookmaking industry will lose £639 million per year with the introduction of the reduced £2 maximum stake.
This has resulted in the drop of share prices of High Street betting office operators including Paddy Power/Betfair, William Hill, and GVC the operators of Ladbrokes and Corals.
You may also like
Join the Betting Planet team!
Are you passionate about sports betting? Sports news writers required TODAY!
Experienced preferred but not essential. (All apps considered).
View Careers at Race MediaTop Online Casinos
Latest Betting News
- Tennis: Zverev ends Humbert’s run at Paris Masters
- New Zealand win Mumbai Test to seal series whitewash in India
- Buccaneers @ Chiefs betting picks & top props | NFL Monday
- India facing tricky chase against NZ on third day of Mumbai Test
- Zverev to face in-form Humbert in Paris Masters final
- Tonga stun New Zealand to reach Pacific Cup final
- WTA Finals 2024 betting tips, odds & predictions
- India v NZ: Honours shared on day one of third Test
- EPL: Ruben Amorim officially appointed as Manchester United boss
- Serie A Matchday 11 preview & top betting picks
Casino Guides
- Safest online casino jurisdictions
- How to guides
- How to win at pokies
- How to play online pokies
- PaysafeCard online casino deposits
- MasterCard Online Casinos
- Online Casinos Accepting POLi
- 32Red Casino Review
- All Slots Casino Review
- Boombet Casino review
- Horse racing games at casinos
- Credit card deposits at online casinos
- Films about blackjack
- Live dealer casinos
- How to play live dealer blackjack party
- Online Blackjack
- Top online casinos 2024
- Online casino deposits
- MasterCard Online Casinos
- Online Casinos Accepting POLi
- PaysafeCard online casino deposits
- Online slots
- Playing Pai Gow Poker on the Internet
- Online keno
- Online poker
- Online poker tournament structures
- Real money online roulette 2024
- Online multi-wheel roulette – what is it?
- How to play online scratch cards in 2024
- Sit & Go online poker tournaments
- Skrill e-wallet deposits at online casinos
- Visa online casino deposits
Sports Betting Guides
Casino Games
Deposits & Withdrawals
Football
Basketball
Top Country Betting sites
- Angola
- Antigua and Barbuda
- Armenia
- Australia
- Azerbaijan
- Bahamas
- Barbados
- Belize
- Brazil
- Canada
- Dominican Republic
- Germany
- Ghana
- Grenada
- India
- Indonesia
- Italy
- Kenya
- Malaysia
- Malta
- Ireland
- Netherlands
- New Zealand
- Nigeria
- Norway
- Philippines
- Singapore
- South Africa
- Turkey
- Uganda
- Ukraine
- United Kingdom
- Vietnam
- Zambia
- Zimbabwe