There has always been debate in England about fixed odds betting terminals, but it seems as though the government has taken a harder stance on the issue than anyone expected. These machines, that are often labelled the crack cocaine of gambling, are set to undergo some changes.
There are many people who still do not know what these fixed odds machines, or FoBTs, are all about. Most individuals will go into a betting spot, place their bet for 10 or 20 pounds, and leave. However, customers who have tried the FoBTs have been fascinated. In fact, gambling companies claim that around half their revenue is coming from these machines, where users can play games such as roulette.
With the Cheltenham Festival in full swing, the government seems to think that this is the best time to bring these machines to the public’s attention. While lawmakers are finally taking a hard stance, it is not as if these machines are a new phenomenon. The first FoBT machine was introduced in 2002. However, they had not reached anywhere near the kind of popularity they currently enjoy. They are a very popular trend, along with online gambling.
The issue lawmakers have with these machines is that they allow customers to place a 100 pound bet every 20 seconds. This would allow someone to bet 300 pounds a minute. Politicians claim that gambling companies took advantage of lax laws and have used these machines to target the poorest parts of the country.
Their levels of addiction have also been mentioned in parliament, with one MP comparing them to cocaine. While that point is debatable, it is clear that gambling companies earn a lot of money from these machines. They offer a reliable source of income, and are not as unpredictable as the betting odds that relate to football or horse racing.
For more information on the proposed crackdown on FoBTs, click here.
