The UK Government has commissioned a report, that once complete is going to allow them to make a decision as to whether lowing the price of play on Fixed Odds Betting Terminals is something that are going to do.
If you are unaware of what those gaming machines are, they are simply a gambling type of machine similar to a slot machines but one on which players can not only play slot machines, but also some other casino themed and styled games such as blackjack and roulette for a range of different stake amounts.
There were introduced back in the year 2006, and they proved to be an instant hit with betting shop customers, and over the years legislation has been brought in that required all betting shop operators to have no more than four of them in use and available in each one of their premises.
The profits from FOBT are remarkable, in fact if it wasn’t for the income derived from those Fixed Odds Betting Terminals many betting shops would have closed down years ago!
However, those profits didn’t go unnoticed by the UK Government and they are now very heavily taxed, resulting in the UK Treasury getting hundreds of millions of Pounds in tax revenue each year from them.
But there is a downside to those FOBT’s to people who cannot control their gambling activities, and that is they can be quite addictive machines to play, and there have been numerous cases whereby many people have got into serious financial difficulties playing them.
In fact Fixed Odds Betting Terminals have also been blamed for a number of suicides also. There have been many charitable organisations, including those that do help people overcome gambling problems that have demanded those machines are either banned or have a massive reduction in regards to the stakes players can play each game for.
As currently it is possible to gamble up to £100 every 20 seconds or so when playing them, and that is concerning those charities and support groups, which they claim is leading to people gambling irresponsibly.
Those machines are often called the crack cocaine of gambling, however it does have to be said that they are no more addictive than online casinos, and the one main difference between an online casino and a FOBT machine is that players are not limited to playing for a maximum stake of £100, but can play for tens or even hundreds of Pounds every few seconds.
The outcome of that report into Fixed Odds Betting Terminals will be known soon and made public however it would appear that one way of appeasing those who are calling for the stake limits to be lowered will be by the powers that be not reducing the stakes to £2 every 20 seconds, but by halving it to £50 instead.