The British government has bowed to the pressure from lawmakers and advocacy groups. In short, it agreed to bring forward its plan to cut the max stake on fixed-odds gambling machines. On the one hand, the change means a great success for the consumer group. But on the other hand, it makes operators pay higher duties.
PM Theresa May said earlier she listened to the debate around gambling machine limits. In fact, in a recent press release, she commented. “The government expects the gambling industry to work with it to reduce the effect of any impact on jobs. Also to support employees that this expedited timeline may affect.”
An Earlier Date
The government announced the decision to adopt the rules on an earlier date in a statement. In the paper, the Secretary of Culture Jeremy Wright detailed the proposition. In essence, it aims to cut the most stake on fixed-odds betting terminals to £2 from former £100. But the novelty is that this drastic move will come into effect six months earlier.
Indeed, the rules will apply from April 2019, rather than from October of the same year. Chancellor of the Exchequer Philip Hammond announced the original date back in October. But since, strong media push and a resignation forced the government to pull ahead with the decision.
Calm After Backslash
In brief, the Sports Minister Tracey Crouch resign in October. She gave up her role in a protest against the October date. She considered it a delay from an original April deadline. “I’m happy that common sense has prevailed. The harm from these machines is well publicised,” Crouch said after the announcement.
As we said before, the decision also put an extra financial burden on online gaming operators. But even so, the news didn’t impact their shares negatively. What’s more, many major British operators recorded gains over last weekend. Analysts agree the recent progress over the Brexit talks stabilised the situation.