BACTA says betting industry will not lose jobs on FOBT stake reduction

BACTA has come out and criticised the betting industry for “scaremongering” that thousands of jobs will be lost if the government reduces the stakes bet on Fixed Odds Betting Terminals (FOBTs).

The trade association for the amusement industry that has itself been severely affected by FOBTs in recent years with almost 50% of adult gaming centres closing because of the high stakes and payouts offered by FOBTs against amusement centres said that recent research, carried out by independent consultancy NERA said that if the government were to reduce stakes on FOBTs down to £10 instead of the current £100 per bet it would NOT mean betting shops would have to close and cost thousands of jobs claimed by the betting industry.

Bacta chief executive John White said the research showed the bookmakers had been “scaremongering” about what would happen if FOBT stakes were cut drastically. He added that a substantial reduction was necessary for player protection and was possible “without leaving a serious economic imprint on the betting shop sector”.

“FOBTs are hardcore gambling machines, wholly unsuitable for high-street venues, and expose everyday punters to the risk of gambling harm,” Mr White said. “We are calling on Government to order a substantial reduction to the dangerously high £100 stake limit, which the bookmaking industry can and should learn to live without.”

Mr White and his association believe that FOBTs have had a major impact on the amusement industry and that betting shops should focus more on its traditional forms of revenues such as horse racing and football.