Cut To Maximum Stake On FOBTs Backed By Culture Secretary

A report in the Sunday Times, which cited unnamed sources close to Matt Hancock, who was promoted to Culture Secretary from his previous position of Minister of State for Digital claims that Mr Hancock backs plans to cut the maximum stake for fixed-odds getting terminals (FOBTs) to £2.The Department for Digital, Culture, Media, and Sport, which Mr Hancock heads up in his new role, published a review last October, while being led by Karen Bradley, which said it would cut the maximum stake, and that there would be a 12-week consultation period where all concerned parties were consulted in order to aid with the ultimate decision of how much the maximum stake would be reduced by.Cut To Maximum Stake On FOBTs Backed By Culture Secretary


Mr Hancock’s appointment was a cause for concern to may opponents of gambling, as his involvement with the horse racing industry (his seat in the House of Commons includes the Newmarket racecourse and he trained to be a jockey previous to his political career) but sources told the Sunday Times that this did not affect his opinion on FOBTs.According to the sources, Mr Hancock is against FOBTs and considers them a “social blight”, claiming that they were taking money from more “mature” betting options such as horse racing.

End of the consultation period

The 12-week period of consultation is due to end tomorrow (Tuesday January 23rd, 2018) and it is expected to be announced that the former maximum stake of £100 will be cut to £2.Sources said there had been an “overwhelming” response to the issue, and this had caused Ministers to take drastic action when it comes to reducing the maximum stake.Bookmakers are concerned that the law change will have a negative affect on retail business, with some speculating that gambling companies could lose a collective £650 million.

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