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Paddy Power Betfair urges decision on fixed-odds devices
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1 November 2017

Betting firm Paddy Power Betfair has actually revealed aggravation that a federal government evaluation did not decide on fixed-odds wagering terminals.
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The firm's primary executive Breon Corcoran stated the evaluation, launched on Tuesday, failed to supply "clarity".

that bets on the makers be cut from a maximum of ₤ 100 a spin to somewhere in between ₤ 2 and ₤ 50.
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Mr Corcoran has formerly required the stakes to be slashed to resolve extensive social issues.

Campaigners argue the electronic machines feed gambling addictions and can see players lose big amounts of money extremely rapidly.

Some had actually hoped the federal government would decrease the yohaig code ₤ 100 stake on Tuesday, but ministers decided instead to seek advice from on a variety of options.

A great bet? The fixed-odds controversy
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Mr Corcoran stated on Wednesday: "We have actually sought long-term certainty and clearness. Yesterday doesn't provide that, however hopefully we will arrive at the next stage."

The assessment closes on 23 January, but Mr Corcoran stated there could be some "drift" before the government makes a decision.

Mr Corcoran was speaking as Paddy Power Betfair reported an 8% rise in maker video gaming in the 3 months to the end of September. Group profits rose by 9% to ₤ 440m.

He has actually previously written to the government stating the stakes on fixed-odds machines need to be cut to "₤ 10 or less" because the dispute has actually become "so poisonous", according to the Financial Times, external.

The devices produced more than ₤ 1.8 bn in income for the industry in 2015, helping to support development for bookies.
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According to the federal government's consultation documents, external, cutting the stake to ₤ 50 would cost companies ₤ 35m, however slashing it to ₤ 2 would see ₤ 639m lost over the next ten years.
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The Association of British Bookmakers said on Tuesday the onus was on the gaming industry to help cut issue gambling.

Fixed-odds optimum bet 'might drop to ₤ 2'
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Bookies brace for possible sales struck

31 October 2017