According 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