UK bookmakers will be engaged in Parliament’s move to lower the maximum bet allowed on fixed odds betting terminals from £100 to £2.
That was the promise of the Parliamentary Under-Secretary of State for Digital, Culture, Media and Sport Lord Ashton of Hyde during a debate in parliament of the cut.
The UK government announced it was making the cut in the maximum bet after a long review and strong public opposition to the £100 maximum stake, which critics said could bankrupt a problem gambler in a matter of minutes.
According to SBC News, Lord Ashton of Hyde said the new regulations would be approved through Parliamentary legislation, adding that they “will happen alongside engagement with the gambling industry to ensure that there is an appropriate period in which to implement the technological changes and develop plans to mitigate the potential impact on employment.”
The inclusion of bookmakers in the implementation of the law, however, brought criticism from problem gambling advocates.
The under-secretary also said the process of implementing the regulations was underway and that officials from the European Union under the EU Technical Standards and Regulations Directive would also be involved.
Conservative MP Lord Deben, however, charged that the government is purposely delaying the change to continue collecting taxes on the higher bets.
“This is a Treasury matter and the reason it is being held up is precisely because of that last point—the Treasury makes money out of it?,” he said. “We want this change because this gambling causes misery and ought not to continue. It is not good enough to plead administrative difficulties; these people should stop and stop now.”
Ashton, however, said that the effect the change will have on employment in the gambling industry was also important and that the change should be carefully implemented.
