The government have decided to crack down of fixed odds betting terminals, the machines often found in bookmakers are dubbed the ‘crack cocaine’ of gambling and have been subject to scrutiny from gambling awareness campaigners. The machines have been reported to be highly addictive but bookmakers and other companies use them because they are highly profitable. They have been blamed for contributing to social and economic hardship
The chancellor Philip Hammond announcing that the government will slash the maximum stake to just two pounds after the government opted to try to tackle problem gambling and rejected claims that it could cost thousands of jobs.
Issues within the gambling industry
The move to tackle the gambling industry is important as a report had previously revealed that the bookmakers tend to target poorer areas, with more shops opening up within those areas. Bookmakers argued that they are major source of income and that because of more people gambling online, shops and jobs will be at risk but as it has been noted, the shops tend to prey on the most vulnerable within society.
Furthermore, the reduction of the maximum stake will work with and be linked to the increase in Remote Gaming Duty, which is the tax paid by the online gaming industry. This is to protect the amount of tax that is normally received from the industry and will no doubt be cut once the legislation comes into full effect.
