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British gamblers suffer record high losses on Fixed Odds Betting Terminals

26 May 2017

fixed odds betting terminalsAccording to a recent survey taken place within the United Kingdom, British gamblers have lost as much as £1.82bn on fixed odds betting terminals in 2016. This amount is higher than ever before, despite the fact that the number of FOTBs, increased only by 9%.

UK gamblers lost almost £14bn last year, an amount that has caused increased concern among the Labour and Liberal Democratic parties. The government has also vowed to conduct a serious investigation on the UK gambling industry, while increased speculation has arisen about placing stake limits on fixed odds betting terminals.

Furthermore, the survey states that 32% of all gambling profits, were raked in by remote operators, who managed to earn about £4.5bn. Online casinos earned £2.4bn, mainly through slots, as 66% of all profits were generated on them.

Lastly, locally based bookmakers (non offshore & betting shops) only marginally increased their yield, as they took in £100m more in GGR, compared to 2015.

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