A large image of geek 4

 

Jobs on the edge if ministers slash FOBT stakes.

Government in the UK is considering cutting stakes on fixed-odds betting terminals from £100 to £2, which might lead the business into a crisis costing many jobs.

gambling image

Since Fixed-odd betting machines have been called the “crack-cocaine” of gambling the pressure on regulations is high.

However the gambling industry created campaigns to prevent the move, focusing on the risk for thousands of employers in loosing their job.

Email sent to Betfred employees from Mark Stebbings, the managing director reads

“This would have a significant impact on the viability of the number of our shops and therefore employment in our businesses – it is not too late to warn your MP of the unintended consequences of such a drastic cut,”

Betfred to lose 4,500 employers if regulations on FOBT approved.

The bookmaker which owns The Tote will cut an estimate of 4,500 jobs if the Authorities carry on with plans to slash most stakes on playing machines to simply £2.

Rumour has it, that hundreds of workers at the company’s Warrington headquarters were also likely to be made redundant if the £2 move goes ahead.

Mark Stebbings mentioned

“Working in conjunction with the Gambling Commission we believe these stake ranges would protect vulnerable gamblers, limit the number of job losses and the impact of livelihoods in the betting industry, and would protect some jobs in the racing industry,”

The Authorities are expected to validate this week that it’s going to impose a £2 most stake on FOBTs – down from £100 now, and properly under the £30 beneficial for consideration by the Playing Fee.

Politics and Gambling

Government has been criticised over the proposed changes with the following argument: “The Tories have adopted a Labour Party manifesto pledge. They are playing politics with people’s jobs”.

gambling fobts image

At Geeky Gambler we will keep you informed about the latest news in the gaming industry

Geeky Gambler
With all of the Bonuses from The Geek there are terms and conditions attached. Please read these fully before taking any Online Casino or Sport Betting Free BetBonus.

That’s it from us today for our Geeky Tips! Join us tomorrow for some more awesome tips!