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.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

Kaizen Gaming has signed a deal with the website optimisation company LeanConvert to enhance its on-site player conversion and UX disciplines across i...

Read more »

Betfair introduced its sports betting exchange to the Italian market aiming at expanding its betting offering in the country. However, the Italian gov...

Read more »

Entain has made an offer to acquire the Baltic operator Enlabs putting on the table $341.6m. This offer means that Εntain (formerly known as GVC Holdi...

Read more »

The Malta Gaming Authority (MGA) is willing to appoint a new chief executive. In its job post, MGA stated that it’s looking for a “dynamic, passionate...

Read more »

William Hill has announced the acquisition of Alfabet S.A.S., a Colombian gambling operator. The globally known betting company William Hill stated th...

Read more »

Russia’s online bookies have received a postponement from the proposed regulatory changes; hoping that the government will change its mind regarding t...

Read more »

The ATP Tour has lifted the two-year ban on men’s tennis tournaments signing deals with sports betting operators. The ATP Tour reached the decision to...

Read more »

The Spanish minister of Consumer Affairs, Alberto Garzón, is about to start a public consultation on a new draft Royal Decree designed to make the cou...

Read more »

Skrill and Neteller have informed sportsbooks that they will not be processing online gambling payments in Norway anymore. Both e-wallets will stop ac...

Read more »

Swiss gambling regulators, the Eidgenössische Spielbankenkommission (ESBK) and the Swiss Lottery and Betting Board (Comlot) have blacklisted another 4...

Read more »

Latest Betting Offers