William Hill warns prime minister over FOBTs guideline change
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15 May 2018

ByDominic O'Connell Today Programme Business Correspondent

The chairman of bookie William Hill has cautioned the prime minister his firm threats being purchased by a foreign competitor if it is weakened by brand-new wagering rules.

In a letter to Theresa May, Roger Devlin stated modifications to the amount that can be wagered on High Street betting makers might hit jobs and earnings.

The government is anticipated to announce imminently a last choice on its evaluation fixed-odds wagering terminals.
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He proposed tougher guidelines on adverts and a levy to assist problem bettors.

Currently, fixed-odds wagering terminals (FOBTs) permit gamers to stake approximately ₤ 100 every 20 seconds.

A review's interim findings recommended cutting the optimal stakes to ₤ 30, however there have actually been reports that the amount might be cut to just ₤ 2.

Anti-gambling advocates, who have called the fixed-odds makers the "fracture drug" of gaming, support the relocation.

Bookies, however, have cautioned that such a cut would lead to the closure of countless outlets, a big decrease in tax paid to the Treasury, and would have ripple effects on the horse racing market.

'Catastrophic'

Bookmakers support horse racing through an industry levy and offering prize money.

Mr Devlin's letter, first reported by Sky News and seen by the BBC, stated UK gambling was "incredibly well regulated".

He composed: "Sadly, I fear that your federal government is about to make a decision that is unneeded and lacking in proof - a choice that will also be catastrophic for a retail wagering market utilizing over 40,000 people."

"Consolidation within our sector continues and I would likewise not want to see the effect of a disproportionate ... outcome being an element in the yohaig code name of William Hill being included to the list of companies now in foreign ownership," he stated.

Mr Devlin said William Hill supported a restriction on gambling advertising on tv before the yohaig code watershed, and a levy on the market to spend for education and treatment of problem bettors.
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Mr Devlin, who was of the bookie previously this promotion code year, is likewise chairman of the yohaig code housebuilder Persimmon, which has been racked with controversy over a generous executive pay scheme.
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Shares in William Hill have actually been hit hard by fears that fixed-odds stakes would be cut, falling greatly last month on reports that the chancellor, Philip Hammond, would not oppose the relocation.

On Monday, however. William Hill shares jumped after the US Supreme Court handed down a ruling that would enable states to legalise sports wagering, opening up a huge potential new market to betting companies.
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