Over in the UK a General Election has been called by Theresa May the Prime Minister, and a quick look at the unique betting markets offered by UK based sports betting companies indicates that she is the red hot favourite to win.
In fact, the odds on her Conservative Party winning that election are a low as one to fifty on, which means by placing a wager of $50 you only stand to win $1 if the Conservatives do win!
However, the betting industry in Great Britain are not impressed with the Labour parties leaked manifesto which states that a new Labour Government would restrict the amounts of cash that visitors to a bricks and mortar betting shop can place on their FOBT machines.
You may be blissfully unaware of what a FOBT Machine is, it is a new generation of gaming machine that were introduced into UK betting shops and betting offices back in 2006, and they offer punters the ability of playing slot machines and roulette games for stakes as high as £100 every 20 seconds.
Those gaming machines have proven to be so popular with punters, it has been reported that betting companies make £34 million a week in profits from FOBT’s! However, those profits do come with a price attached, for these types of gaming machines have been described as the Crack Cocaine of Gambling by many gambling addiction related charities who are dealing with the aftermath of players becoming hooked on them.
Over the years there have been many calls for these gambling machines to be banned or to at least have some much lover maximum stake limits in place, to limit the potential losses of FOBT players, however consecutive governments have ignored those calls to have them banned or to put into place legislation that limits the stakes players can play them for.
However, that is about to change if, by some sheer fluke, Labour do manage to get into power at the next general election in the UK for the leaked manifesto states that a Labour Government would limit the stakes players can play them for to just £2 instead of £100.
As such a player would not stand the chance of losing £100 every 20 seconds but could lose every 20 seconds a maximum of just £2 instead. That has of course upset those involved in the betting industry, for it is no secret that many betting shops can only show a profit due to the income they make by their FOBT machines, which are limited to just four per shop.
One thing that has happened however in towns and cities in Great Britain is that betting companies have opened up more and more betting shops often on the same street in major towns and cities to allow them to be able to operate more of those machines in those towns and cities.
In fact, the BBC recently reported that one street in the UK has 18 betting shops located on it, however with the Conservatives looking to be the likely next government in the UK and with that political party having shown no real commitment to reduce the stakes on FOBT machines, it is probably something that betting companies should not be too worried about.