Thursday 18 October 2018

Plunged into debt campaign reply


Gambling addiction is a serious problem that has regrettably ruined far too many lives. Many of my constituents share my view and some have recently written to me to express their concern following reports in the media that the new £2 maximum stake on highly addictive betting machines – fixed odd betting terminals (FOBTs) – will not be implemented until April 2020, as opposed to 2019. 

FOBTs are a type of electronic slot machine normally found in betting shops. Each machine accepts bets for amounts up to a pre-set maximum and pays out according to fixed odds on the simulated outcomes of games. It is possible to lose large amounts of money in a very short period of time while using FOBTs, and research have shown that the machines
have a causal role in problem gambling.

On 17 May 2018, the Government announced that the maximum stake on FOBTs will be reduced to £2. This will reduce the ability to suffer high session losses, while also targeting the greatest proportion of problem gamblers. It will mitigate risk for the most vulnerable players, for whom even moderate losses on the machine might be harmful.

I fully understand the harm that FOBTs can do and I believe it was right for the government to take action in protecting our citizens from falling prey to these machines. Changes to the stake will be made through secondary legislation and I would like to see these changes implemented soon.

However I also recognise that any new industry regulation requires meaningful engagement between government officials and stakeholders. Betting shops need to be fully prepared and be given sufficient time to implement and complete the technological changes brought about by the change.

It is in everyone’s interest to have a healthy gambling industry that contributes to the economy, but also one that does all it can to protect players and their families, as well as the wider communities, from harm.