The Chief Executive of British Horseracing Association (BHA) Nick Rust, said: “Cutting the top stake on fixed-odd betting terminals (FOBTs) will have a “significant” impact on the sport.”
The gamblers currently have the privilege to wager as much as £100 (€114/$142) per spin on FOBTs, but the government is thinking about minimising this to £2 in the midst of increasing pressure from campaign groups.
It was noted earlier this month that the new UK Culture Secretary Matt Hancock, is determined to advance with these plans following an “overwhelming” response to an ongoing government review of the sector.
However, speaking to At The Races, Rust disclosed that: “Should the government opt to take this option, then the financial benefit horse racing has experienced since the levy was introduced could be wiped out.”
“We recognise the strong contribution betting makes to our sport so we are very clear with the government that if it were to go to a £2 maximum stake on fixed odds betting terminals it would have a significant impact in the short and medium term on British racing,” Rust added.
“We want the government to understand that fully before it makes its final decision we are taking steps to ensure they understand the impacts, they understand the cash flows and the likely impact on our sport.”
“The great work that government has done in helping us extend the levy could be undone at a stroke if there is a move to a £2 maximum stake.”
The Arena Racing Company Chief Executive Martin Cruddace seemingly agrees with Rust, saying: “A cut in the maximum stake to £2 would be “pretty catastrophic” to racing income,” according to the Racing Post.
Source: European Gaming News…
The post Government warned over cutting FOBT stake by the British Horseracing Association (BHA) appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.
