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FOBT Max Stake Reduced

Missed this news yesterday but how great is that the goverment have finally done something useful.

FOBT Machines will be reduced to £2 max stake.

Thankfully that is 1 aspect of betting I never used, but when I worked in William Hill the amount of people I saw coming in and throwimg hundreds upon hundres of pounds away on them machines was crazy.


Alot of inshop issues are caused by these aswell, people lose big and start hitting the machines, throwing things at them, hopefully with a £2 max stake it will stop alot of people using them.
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Comments

  • From a selfish standpoint, I dont think this is a good thing... Enjoy playing on these sometimes and a 2 quid max stake will suck all the fun out of it.
  • Not good news for the thousands of people who will lose their jobs when the betting shops have to inevitably close as a result of this decision, however it's absolutely a good thing.

    Can't see how it will affect the real gambling addicts though, as there are no online limits, so surely they'll just play online instead?
  • Not good news for the thousands of people who will lose their jobs when the betting shops have to inevitably close as a result of this decision, however it's absolutely a good thing.

    Can't see how it will affect the real gambling addicts though, as there are no online limits, so surely they'll just play online instead?

    So much of this is social tho.

    You go into the high street walk into a betfred or William Hill and see how many of these machines have groups of 4/5 people around, these people aint gonna sit around indoors on computers doing it.

    Plus online most have deposit limits so before you could walk into a bookies and throw hundreds and hundreds into machines but online normally have a 24 hour deposit limit
  • Yes, Paulie there's been a big increase in violence in bookies. I'm sure these egregious machines have a lot to do with it.

    An interesting aspect is the demographics of punters: those in-store having a bet on the horses are generally 45 plus; those using the sparkly devices are much younger. Clearly a tactic of these obnoxious companies to suck in more mugs at a younger age. "Ooh, look a shiny thing".

    You know you can't win because there's a sign on the front that tells you! And yet still people feed money into these things. On top of that, it's not Vegas is it? I think there's a max payout - is it £500 - so what's the point? Hardly going to be a life-changer is it?

    @CAFCsayer if you think being in the sad, down at heel environment of a bookmakers and hurling money into a computer designed to be unable to lose is fun, then I think you need help. https://gamblersanonymous.org.uk/
  • edited May 18
    Any bookie that goes out of business because of it shouldn’t of been there in the 1st place although for gambling addicts there’s only so much that can be done, as there are lots of online alternatives, it’s like making you only be able to buy 2 cans of beer in a supermarket instead of a crate. I used to play them but never loads I’m fortunate in that I’ve only ever bet what I’ve been able to risk a lose on.

    Equally it should improve the quality of people you get in these bookies as so many huddle round a machine to play it can be intimidating.
  • Don't say this very often about this shambles of a government but we'll done on this occasion. Absolutely the right decision in my view...now drop it to £1 please.
  • I didn’t think they’d have the balls, but really pleased they have.

    You see people feeding these machines money like there’s no tomorrow.

    I first became aware of the dangers about 10 years ago. A guy in our building (security guard) had been made redundant at a previous job (stock brokers) and got over £100k pay out. Took him less than a year to lose the lot and some. Cost him his house and marriage and his whole life really. He seemed to be addicted to losing as it wouldn’t matter if he was up £2k at any point he’d just carry on until whatever he had was gone.

    It’s a shame for those who may lose their jobs but it’s a price worth paying.

    Re online that should be next although other than the odd £5 on sky bet for footy I don’t really use it so don’t know what the limits etc are.

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  • You only saw the increase in betting shops because only 4 FOBTs were allowed in any one shop, therefore to maximise profit you would see the same bookmakers with several shops in one area.

    Re staffing, a lot of shops are single staffed usually later in the day/evening. This has raised objections by the shop staff union about the safety of staff especially women left alone.



  • I love keeping hold of money for as long as possible rather than waste it on FOBM. Feel sorry for those who have been sucked into a life of misery by these things but to control it in this way can only be a good thing
  • When the fun stops, stop...
  • Never met a poor bookie......and I’m sure I never will.
  • Not good news for the thousands of people who will lose their jobs when the betting shops have to inevitably close as a result of this decision, however it's absolutely a good thing.

    Can't see how it will affect the real gambling addicts though, as there are no online limits, so surely they'll just play online instead?

    Not going to happen if you ask me.

    A few years ago i was on a training course and got talking to a bloke that was sitting next to me who just so happened to work for a bookmakers. He told me that me that they do more transactions on those machines than the London Stock Exchange.
  • cafc999 said:

    Not good news for the thousands of people who will lose their jobs when the betting shops have to inevitably close as a result of this decision, however it's absolutely a good thing.

    Can't see how it will affect the real gambling addicts though, as there are no online limits, so surely they'll just play online instead?

    Not going to happen if you ask me.

    A few years ago i was on a training course and got talking to a bloke that was sitting next to me who just so happened to work for a bookmakers. He told me that me that they do more transactions on those machines than the London Stock Exchange.
    Transactions, maybe, value no. He was being "economical with the truth" but effectively made a point nonetheless.

    There's a fair few mind-blowing facts here: https://theguardian.com/society/2017/aug/31/uk-gambling-industry-takes-14bn-year-punters

    Not the least of which is that 11% of users of these machines are "problem gamblers" and that each machine generates over £50k per year.

    The party responsible for liberalising gambling should hang its head in shame.

    (Meanwhile the LSE just on mainstream trades turns over £6bn a day with in excess of a staggering €100bn daily on MTS.)
  • CAFCsayer said:

    From a selfish standpoint, I dont think this is a good thing... Enjoy playing on these sometimes and a 2 quid max stake will suck all the fun out of it.

    I would have thought the opposite, being able to bet £100 every 20 seconds is taking the fun out of it. Surely being able to bet £6 is a minute is still enough to get a decent win without losing your life in your lunch hour

    Yes bookmakers will lose profits and yes a few jobs will be lost but that's better than the alternative.

    One thing I will say is that it won't solve as much as people hope IMO. Instead of somebody losing a grand in 10 minutes, it will just take them a few hours. Won't stop being losing a lot of money but still a positive move IMO
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  • Not good news for the thousands of people who will lose their jobs when the betting shops have to inevitably close as a result of this decision, however it's absolutely a good thing.

    Can't see how it will affect the real gambling addicts though, as there are no online limits, so surely they'll just play online instead?

    There is such a huge difference in going home to log in online and not being able to walk past a bookies without going in though. A mate of mine can easily sit online stick £20 in and lose it without the need to pile more in. Yet somehow he will chase his losses to the tune of several hundred a time. I think he takes it personally if you like when he plays in a shop
  • I knocked around in bookies more than I should have when I was younger. I'm sure I would have got into far bigger trouble if these machines had been available back then (relatively low stake fruit machines were bad enough!). My only contact with bookies these days is when I glance through the window as I pass by, the people inside never fail to depress me.
  • edited May 18
    £100 max bet with £500 max payout is absolutely scandalous.

    Wonder if they'll be dropping the max payout to £10 now the max bet is £2....
  • It’s obviously a good move but I can’t see how it’s going to help people with addictions. If people are determined to lose their money in these machines, then they’ll just lose it more slowly.
  • JaShea99 said:

    It’s obviously a good move but I can’t see how it’s going to help people with addictions. If people are determined to lose their money in these machines, then they’ll just lose it more slowly.

    Which is a perfectly sensible approach to reducing the risk
  • JaShea99 said:

    It’s obviously a good move but I can’t see how it’s going to help people with addictions. If people are determined to lose their money in these machines, then they’ll just lose it more slowly.

    I made that point and I do agree. It's not going to solve the issue completely but it's going to deter a lot of people IMO. At least reducing the amount that they can physically lose when they bob in for 10 minutes will help massively.
  • People that say it wont stop people usong the machines i doubt have used them.

    If u go into a bookies and watgh these people.on roulette, half the time they dont have know what numbers they are doing just spreading loads of money accross the board.

    If they can only.do £2 a spin i think alot fewer people will use them
  • People that say it wont stop people usong the machines i doubt have used them.

    If u go into a bookies and watgh these people.on roulette, half the time they dont have know what numbers they are doing just spreading loads of money accross the board.

    If they can only.do £2 a spin i think alot fewer people will use them

    good point, people won't get the same 'buzz' spreading their 20p's across 10 numbers to win £7.20
  • Coral have said that it will have a £120m affect on earnings. So that, presumably, will be £120m that people with an addiction to machines that they can't beat won't be losing?

    And yes an addict may find other ways to lose it but there were more than 230,000 occasions last year when players lost more than £1,000 in a session it really does beggar belief. That's someone nipping into their bookies at lunchtime and having 10 spins in three or four minutes and losing a grand - no wonder Coral made so much profit.

    They will just have to go back to doing what they are meant to be doing - bookmaking.

    I'm not crying for them. The GVC* share price has hardly suffered this week.

    image

    *GVC owns bwin, Sportingbet, Foxybingo and others as well as Ladbroke/Coral. It will surprise no one to learn that it is HQ'd in the Isle of Man.
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