Updates Regarding the Max Stake of FOBTs
The Bookmakers in the United Kingdom are going to trail the new FOBTs Max Stake, which went from £100 to £2. The plan is to put the new stake in effect as a trial in March, across some different shops in Birmingham, as the planning continues to implement it in full force the next month. The Association of UK Bookmakers stated that the preparation for the new and revised max stake for the FOBTs is already in an advanced stage, and they pledged that all wagering shops are going to be compliant when it comes into full force on the 1st of April.
Overview of the UKGC Decision about FOBTs Max Stake
The UK government took a decision last year, after a long time of negotiation, to cut down the maximum stake down to £2, after a sustained attack from the politicians, the media and the campaigners who blamed problem gambling on these gaming machines. On the other hand, ministers had no choice but to go into an embarrassing climb-down last autumn, after the plans to implement these changes in October led to the sport and civil society’s minister’s resignation, Tracey Crouch, among a cross-party condemnation.
According to the ABB, the decision to cut down the max stake of these machines is going to result in the closure of more than 4500 wagering shops, and the loss of more than 21000 jobs. William Hill, and the parent company of Ladbrokes and Coral, GVC Holding stated that 900 and 1000 of their wagering shops are going to face the danger of closure. Also, as per the statement by the ABB, more than four-hundred games are going through re-programming so they can meet the new max stake requirement, as well as having the responsible gaming measures, including the ability to set spend and time limits.
The machine suppliers are going to be trailing content, the new FOBTs Max Stake and the platform updates in a cross-operator trail in some wagering shops in Birmingham in March. UK Bookmakers will also be rolling out training programs for the staff, as well as customer info so they can help them with the adaption process to these changes.
The Trial of the New Stake
The ABB stated that it is a complicated process, and it is in an advanced phase, and the trialing process will soon begin, which will ensure that the betting shops are going to be compliant with new FOBTs Max Stake cut that will start on the 1st of April.
The ABB stated that they are grateful for all who are working tirelessly to make sure that the wagering shops succeed in meeting these new requirements as to make the wagering shops at High Street the safest and the best place to enjoy gambling. The new £2 max stake has already resulted in an impact on racing as the ARC (Arena Racing Company) stating last year that it is going to reduce its executive contribution to prize money this year, which is a pre-emptive move to the expected shop closures.