FOBT stance by Paddy Power Betfair a ploy to acquire smaller operators says Jenningsbet boss

The fallout from the announcement that Paddy Power Betfair feels that Fixed Odds Betting Terminals (FOBTs) should see a large reduction in stakes bet on them because of the “‘toxic nature of the debate’ has angered the boss of independent bookmaker Jennigsbet.

Greg Knight the Managing Director of the bookies that operates some 100 betting shops in the UK said that the letter sent from Breon Corcoran the boss of Paddy Power Betfair asking Tracey Crouch the Minister for the Department of Culture, Media and Sport (DCMS) to reduce the stakes on the machines as the only way to “addressing societal concerns’ is a ploy by Paddy Power Betfair to destabilize independent bookmakers like Jenningsbet in order to conduct a takeover of smaller bookies.

Knight says that the DCMS should not listen to Paddy Power Betfair as it is a ploy to undermine smaller operators who rely on the income from FOBTs so that larger companies can then steal a march in acquiring them. Knight said, that they want to ‘capitalise on the demise of the independent sector in the UK by takeover and market consolidation’.