Fixed Odds Betting Terminals
Reducing the maximum stake and minimising the impact
SIR PETER CAMPAIGNED ALONGSIDE COLLEAGUES, LORDS AND COMMUNITY LEADERS TO SUPPORT REDUCING THE MAXIMUM STAKES POSSIBLE ON FIXED ODDS BETTING TERMINALS DOWN TO £2.
THE CAMPAIGN WAS SUCCESSFUL AND LEGISLATION IS SET TO COME INTO ACTION IN APRIL 2019.
4 July 2019
William Hill Closures
Bookmaker William Hill has said it plans to close about 700 betting shops following the government's decision in April to reduce the maximum stake on fixed-odds betting terminals to £2.
Everyone agrees that it was sensible to bring the stake down on fixed odds betting terminals from £100 every twenty seconds to £2. If that means that bookmakers like William Hill stop ripping off the vulnerable individuals who have become addicted to such terrible machines, then the sooner the better and it should have happened years ago.
Many of these jobs were created in recent years because bookmakers were exploiting a loophole that wasn't justified, wasn't ethical and wasn't intended.
These stores were well aware that it would be brought to an end eventually. They should have been preparing their staff long before the campaign to reduce the stake came into being.
I am proud to have been a supporter of the campaign to cut the stake from £100 to £2, and will continue to make the case for fairer and more considerate legislation.
Let us now hear about what will now be done to create roles and jobs doing things that are worthwhile, fun and not addictive.
14 November 2018
On the 1st of November, the Government announced that legislation to bring Fixed Odds Betting Terminal maximum stakes down to £2 will now come into action in October 2019.
While the apparent delay in implementation will still leave many people at risk, I am grateful that the Government has committed to taking action.
During that day's Urgent Question, raised by Tom Watson MP, I emphasised to the Government that action needs to be taken with due urgence.
Whilst we can acknowledge the unequivocal positive effect the cut to £2 will have, we all want to see this happen at the soonest opportunity.
Below you can view my initial question and the Government's response.
Two weeks after my question, the Government made clear that it would bring the cut back to the initial date of April 2019. The Government's response is welcome.
I spoke with radio host Eamonn Holmes about why the Government's announcement that they will cut the maximum stake for Fixed Odds Betting Terminals will have a radical and resoundingly positive impact on the lives of some of the most vulnerable members of our communities up and down this country.
It is critical that every sector of our society recognises their social responsibility, with a key focus on ethical and principled output that does not take advantage of anyone.
As I discuss with Mark Littlewood, Director General at the Institute of Economic Affairs, we should never have let these machines have come in, and we need just look across to the Republic of Ireland where their gambling sector is thriving even though FOBTs have never been legal.
The lost tax revenue is a non-starter when considering the lives of people across this country.