The 1st of April 2019 saw the introduction of a new regulation imposed by the United Kingdom Gambling Commission. The new rule lowered the maximum stake accepted on Fixed-Odds Betting Terminals (FOBTs). Following this latest change, the Commission cautioned Paddy Power Betfair and Betfred after assessing that some of their latest products had the potential to go against the new framework. As a result, the operators might face legal implications if they don't comply.
In a media statement, Paddy Power Betfair claimed that their product does not fall under the FOBT category, as it's essentially a type of lottery, so no fixed odds apply there. Also, players don't place their bets on a terminal, but to an actual person in a shop. Elaborating on the operator's public announcement, a Paddy Power Betfair representative claimed that their latest betting product ran for a limited amount of time in a few betting shops. What remains to be decided now is whether the company will release the product in full or not.
However, a new announcement to the media came from Paddy Power Betfair a while after the first one, making their decision public to not go any further with that specific product. Betfred on the other hand, immediately complied with UKGC's warning and recalled their product from the market. The Commission's Executive Director was very clear about not making any compromises when it comes to compliance with the new framework. He also made clear that the product evaluations will continue aiming to ensure all operators respect the latest maximum stake changes on FOBTs.
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Betfred is a well known name among bettors in Britain as they have been around for the past 50 years. I mostly remember their betting shops in the UK, however, they managed to impress me with their nicely made website as well. The high odds on most football matches are a welcome addition and the fact that they are regulated by the UKGC and GLA certainly cannot be overlooked. Their variety of payment methods is sure to satisfy even the most demanding punters while the welcome bonus of £30 with a simple £10 deposit is quite impressive. A few more promotions, more languages and some Asian Handicaps would be a welcome addition, to an otherwise quality bookmaker.