FOBT stake change “not as bad as expected”.
UK bookmaker Betfred has said the FOBT stake change was “not as bad as expected” with a bounce back into profit in its most recent fiscal year after two straight years of negative results.
In its latest financial reports, total gambling turnover hit £10.1bn, down from £13.2bn in 2018, and revenue fell 12 percent to £621m, however operating profit came in at nearly £74.8m a dramatic turn around.
Or put another way – The Bookmakers as a whole were feeding the government, media and the public with false information to keep their unlevel playing field over pubs, amusement arcades, bingo halls and other venues. But it has not ended up with up to fifty percent of their shops closing like some of them were falsely predicting.
Their unfair advantage carried on for many years solely because of the monies they have been earning, giving them vastly more power in swaying the government to let them continue with these unfair and addictive type gaming machines. We are glad that after years of pressure from different lobbing groups the government changed the stakes for FOBT machines.
Pubs and clubs can have a digital roulette or poker machine it is in a different format that is £1 per play in pubs and a maximum £2 per play in clubs. This machine is a far softer gaming machine that offers customers entertainment rather than an FOBT machine which were how the media described them – ‘The crack cocaine of gambling’