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Alarming loses for British punters on Fixed Odds Betting Terminals

12 May 2017

fixed odds betting terminalsAccording to a recent study published by Landman Economics, British punters have lost £11 billion on fixed odds betting terminals (FOBT) during the last 9 years.

The figures reach an impressive £50 billion in wagers since 2008, that in conjunction with the £11 billion deficit, amounts for £8.000 in losses to the average bettor.

Landman Economics have drawn the following conclusion from the use of FOBTs:

  • Around 40% of all FOBT players are considered to be "problematic bettors", with average losses of £15.000
  • Around 186.000 jobs may have been lost, as gambling operators do not recycle revenues at the same rate as other industries in the private sector
  • The Government is estimated to have lost about £1.3 billion in tax revenue

These figures have alarmed British lawmakers, who are considering implementing radical changes on the FOBT stake limit, after the coming elections.

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