FOBT industry in upheaval due to the upcoming £2 cut

14 May 2018

FOBTThe £2 cut in FOBT stakes is expected to take a major toll on land based operators in the UK. The imminent regulation has caused restlessness mostly due to the lack of information as to when the new framework will be implemented. The controversial nature of the issue seems to have raised a significant number of speculations as to what the government's stand will be on the subject. Recent disagreements between various ministers and the Department for Digital, Media, Culture & Sport (DCMS), the regulatory board responsible for gambling laws, have set the government back on its schedule towards their final judgement.

The severe consequences the betting industry in the UK is going to suffer were pointed out by UK Pensions Secretary Esther McVey. The Secretary did not neglect to emphasize how the cut is going to take a toll on various UK betting groups including employees and stakeholders. A suggestion made by UK betting executives to help smooth the transition into the new framework was to implement a one-year transition period. William Hill's CEO Philip Bowcock advised government officials to take a less strict approach on FOBT wagering highlighting the implications the framework will have on UK market at large, including unemployment increase.

William Hill’s new Group Chairman, Roger Devlin regards the potential implementation of the new regulation by the government as completely ‘unnecessary and evidence lacking’. Devlin estimated that the new law is bound to cause a loss to UK Treasury of approximately £1 billion in income, with a good 20,000 industry jobs being in threat. The government's final decision is expected to be announced within the month of May by DCMS leader Matt Hancock, reputable news sources say.

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

The sports betting company, Parimatch, rebranded its corporate identity and was renamed Parimatch Tech, while establishing itself as a multi-market an...

Read more »

The renowned crypto sports betting platform, Stake.com, marks Watford’s return to the Premier League by signing a new multi-year sponsorship. The book...

Read more »

Formula 1 strikes a deal with PokerStars Sports, making the well-known bookmaker its official sports betting partner in Europe. The deal was arranged ...

Read more »

Τhe Verkhovna Rada, Ukraine’s unicameral parliament, saw 252 of its members voting in favor of the bill 2713-D, that intends to lower taxes for those ...

Read more »

President Uhuru Kenyatta boosted the Kenyan betting market by lowering the tax which applies to players’ winnings to 7.5%. Securing its presidential a...

Read more »

For the next three years the online bookmaker Vbet will be the new title sponsor of the Ukrainian Premier League (UPL). The renowned sportsbook will a...

Read more »

As of today, July 1, 2021, the long-awaited German law allowing online gambling all over the country finally comes into effect. Even before fully open...

Read more »

NetBet Enterprises has been awarded sports betting and online casino licenses in Greece by the Hellenic Gaming Commission (HGC) in order to continue i...

Read more »

The renowned sportsbook Pinnacle announced that it will offer a $500,000 betting limit to its players for the Euro 2020. The bookmaker is focused on o...

Read more »

The French gaming regulator the Autorité Nationale des Jeux (ANJ) has conducted a research showing that 31% of French football fans are placing their ...

Read more »

LIST OF TOP BOOKMAKERS
22bet
  • 1.000+ live events daily
  • 95% payout on top leagues
  • Cashout
100% up to €122
1xBet
  • 1.000 live matches daily
  • Asian Handicap
  • 50+ sports
  • Code:BOOKSPY
100% up to €130
Stake.com
  • 95% overall live betting payout
  • 500,000 pre-match events/year
  • 100+ extra bets on top footy events
200% up to $1000
Rabona
  • 20.000+ live events per month
  • 95%+ on Top 5 leagues and NBA
  • Alternative handicaps on basketball
150% up to €150
888sport
  • 10.000 live events per month
  • 40+ sports
  • Bet Builder
  • Code:30FB
€30 Free Bets
Zodiacbet
  • 30+ sports
  • Asian Handicaps
  • Card and Corner bets
  • Code:ZB100S
100% up to €100
20Bet
  • More than 1,000 live events/day
  • 150+ markets in football
  • 40,000+ events/month
100% up to €100
Librabet
  • High odds on football
  • Huge variety of betting markets
  • Intriguing welcome bonus
100% up to €250
Royal Oak Sports
  • Few country restrictions
  • 30+ sports
  • Asian Handicaps
  • Code:WELCOMESPORTS
100% up to $100
Bet365
  • Ideal for football lovers
  • 150+ extra bets on top leagues
  • Multiple Asian handicap markets
€25 Bet Credits
Rolletto
  • 95%+ on tennis
  • Alternative spreads on basketball
  • Asian View
120% up to €240
Mystake
  • Few country restrictions
  • 1,000+ pre match events daily
  • 400+ football markets
100% up to $500
Unibet
  • 250.000+ pre-match events/year
  • 10.000+ live events monthly
  • 96%+ on Asian Handicaps
100% up to €50
Bwin
  • 50+ sports
  • Cards & Corners
  • Edit my bet
High Odds
FEZbet
  • Cashout
  • Next Minute bets
  • Fast Markets
150% up to €100
LATEST BOOKMAKER PROMOTIONS