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1 Paddy Power Betfair Urges Decision On Fixed odds Machines

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Paddy Power Betfair advises decision on fixed-odds devices
bet9ja.com
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 firm's chief executive Breon Corcoran stated the review, released on Tuesday, stopped working to supply "clearness".
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Ministers proposed that bets on the yohaig code devices be cut from an optimum of ₤ 100 a spin to someplace between ₤ 2 and ₤ 50.

Mr Corcoran has formerly called for the stakes to be slashed to attend to prevalent social issues.

Campaigners argue the electronic makers feed gambling dependencies and can see players lose large quantities of cash very quickly.

Some had actually hoped the government would lower the ₤ 100 stake on Tuesday, however ministers decided rather to on a variety of choices.

A great bet? The fixed-odds controversy

Mr Corcoran said on Wednesday: "We have actually sought long-term certainty and clarity. Yesterday does not deliver that, however ideally we will arrive at the next phase."
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The assessment closes on 23 January, however Mr Corcoran said there might be some "drift" before the government makes a last decision.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in maker video gaming in the 3 months to the end of September. Group revenue rose by 9% to ₤ 440m.

He has previously written to the government stating the stakes on fixed-odds machines should be cut to "₤ 10 or less" because the dispute has actually ended up being "so harmful", according to the Financial Times, external.

The devices produced more than ₤ 1.8 bn in earnings for the industry last year, helping to support development for bookies.

According to the government's consultation files, external, cutting the stake to ₤ 50 would cost companies ₤ 35m, but slashing it to ₤ 2 would see ₤ 639m lost over the next ten years.

The Association of British Bookmakers said on Tuesday the onus was on the yohaig code betting market to help cut problem betting.

Fixed-odds optimum bet 'could drop to ₤ 2'
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