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.
