Gambling industry warned over fixed-odds stake cut

Image source, Reuters

The Gambling Commission has written to bookmakers to remind them of their responsibilities in ensuring consumers are protected.鈥

On Monday, the maximum stake that can be played on fixed-odds betting terminals (FOBT) is being cut from 拢100 to 拢2.

These machines have been described as the crack cocaine of gambling.

The new rules are meant to 鈥痗ut the risk of players losing large amounts of money in a short space of time.

Ahead of the implementation, Gambling Commission chief executive Neil McArthur has鈥痳epeated to bookmakers the regulator's expectations about how the changes should be managed.鈥

"We have been closely monitoring operators' plans to manage the implementation of the stake cut and we will continue to watch very carefully to ensure that any changes and developments to these products are done with a focus on customer safety," he said.

New rules

The commission is considering a range of extra measures it considers will make the whole industry safer.

In May, it will bring in new鈥痠dentity and age-check rules, which will鈥痝uard against the risk of children and those gamblers who have blocked themselves from gambling circumventing self-exclusion.

It is also considering banning the use of credit cards鈥痜or online gambling and鈥痠mproving the ways in which鈥痮perators interact with a customer鈥痺ho may be experiencing gambling-related harm.