Matt Hancock cuts prime stake on FOBT to £2 – The Sun

(Reuters) – Media secretary Matt Hancock has stated that the very best stake on mounted odds betting terminals (FOBT) can be lower to 2 kilos, The Sun reported on Wednesday.

Britain’s Secretary of State for Digital, Culture, Media and Sport Matt Hancock arrives in Downing Street in London, January 16, 2018. REUTERS/Hannah McKay

Prime Minister Theresa May had been “on the fence for a while” with Chancellor Philip Hammond being against the two kilos restrict, however May ultimately sided with Hancock and Sports Minister Tracey Crouch on the difficulty, the report stated, citing a supply.

British playing corporations GVC Holdings Plc (GVC.L) and Betfred, together with different bookmakers, had been weighed down for the previous few months by uncertainty over the assessment to determine the brand new prime stake for slot machines.

FOBT is a touch-screen machine that permits gamers to guess on the end result of assorted video games equivalent to roulette. Dubbed the “crack cocaine” of playing, campaigners argue that the machines allow gamers to lose cash too shortly, resulting in dependancy and wider social issues.

Reporting by Ishita Chigilli Palli in Bengaluru

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