Chancellor once again delays decision on FOBT maximum stake

Betting Business FOBT review
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News sources have reported the government will once again delay its upcoming triennial review judgement on reducing the maximum stake on fixed odds betting terminals (FOBTs).

Campaigners have been confident they could persuade the government to cut the stakes on FOBTs from £100 to just £2.
But according to The Times, Chancellor Philip Hammond has put the decision ‘on hold’ as the treasury remains in-doubt of being able to replace the lost tax duties from wagers on the machines.
In its spring statement, the Office of Budget Responsibility detailed FOBT’s could raise £74 million of the projected £119 million in UK machine gaming tax.
Sources say the decision on how far to lower the maximum stake on the gaming machines will now be delayed until after local council elections on 3 May.
It has been reported that Hammond is blocking the cuts after rejecting measures preposed by industry supervisor the Department for Digital, Culture, Media and Sport.
The industry says that a £2 limit would cause hundreds of betting shops to close leading to job losses in the thousands.
The Gambling commission’s analysis does not take into account any financial impact on the economy, the exchequer or the industry and has been widely criticised by bookmakers.

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