British betting shops are poor relations of our own

Plan to dramatically cut stakes on machines is another nail in coffin

4th February, 2018
Saldier owner Rich Ricci

Bookmakers’ shares fell last month arising from a report that British culture secretary Matt Hancock was considering a cut to the maximum bet on fixed-odds betting terminals (FOBTs) from £100 to £2.

State interventions so dramatic are a rare thing indeed. There are roughly 9,000 betting shops in Britain and each shop has four FOBTs (read slot machines) generating weekly an average of just under £1,000 profit.

Certainly, shops will close if Hancock accedes to...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Content is king – just ask Netflix as rivals attempt to steal its crown

Tom Maguire: Tax changes we make now could help business for years