UK bookmakers are bracing themselves for a potential £150m ($204m) annual reduction in revenue following a forthcoming government review into maximum stakes on fixed-odds betting terminals (FOBTs). Dubbed the "crack cocaine of the high street" by critics, FOBTs account for halfmore than half of all retail betting profits. However, while many bookmakers are hoping for a £20 maximum stake, it could be cut to as little as £2, a move insiders said would "close more than half the industry". The regulatory review is due to take place in October.
UK bookmakers are bracing themselves for a potential £150m ($204m) annual reduction in revenue following a forthcoming government review into maximum stakes on fixed-odds betting terminals (FOBTs). Dubbed the "crack cocaine of the high street" by critics, FOBTs account for more than half of all retail betting profits. However, while many bookmakers are hoping for a £20 maximum stake, it could be cut to as little as £2, a move insiders said would "close half the industry". The regulatory review is due to take place in October.