Ladbrokes: one billion monthly profits from the high street FOBTs
Saturday, March 26, 2016
Ladbrokes: one billion monthly profits from the high street FOBTs
April 9th, 2014
Ladbrokes, it seems, is doing rather well with the so called "FOBTs", or fixed-odds betting terminals. This from an article in the Daily Mail - One billion in one month: secret document reveals huge profits:
A single bookmakers' chain took £1billion from highly addictive gaming machines in just one month, a leaked document has shown.
An internal memorandum from Ladbrokes has revealed the vast scale of the profits that are made thanks to roulette machines, dubbed the 'crack cocaine' of gambling.
An internal memorandum from Ladbrokes has revealed the vast scale of the profits that are made thanks to roulette machines, dubbed the 'crack cocaine' of gambling.
Government action is now in the pipeline, but according to the Mail article it may fail to have much impact:
Downing Street has now signalled that it is ready to crack down on FOBTs – with penalties for bookmakers who fail to limit punters’ losses and enforce limits on playing times. The proposals will also give councils the power to stop the clustering of betting shops, particularly in deprived areas where relaxed planning rules have made it easier for them to open.
But the leaked Ladbrokes document suggests that the plan to cap betting time at 30 minutes and losses at £250 a session could fail to make an impact – as the average spend is £93 and only 8 per cent of punters play for more than half an hour.
But the leaked Ladbrokes document suggests that the plan to cap betting time at 30 minutes and losses at £250 a session could fail to make an impact – as the average spend is £93 and only 8 per cent of punters play for more than half an hour.
One bookmaker manager was surprisingly candid in his opinion:
No one wants to see more any dependence on FOBTs – they are horrendous. They're the worst thing that's ever happened to the betting industry, either customers or staff. Since these machines came in, the industry has totally changed.
They are there for hours like zombies spending all their money. People who bet on the horses or the dogs are stoical if they lose, it's entertainment.
People who play these machines have a totally different mentality. Comparing it to crack cocaine is exactly right.
They are there for hours like zombies spending all their money. People who bet on the horses or the dogs are stoical if they lose, it's entertainment.
People who play these machines have a totally different mentality. Comparing it to crack cocaine is exactly right.
I've covered the FOBT issue in two previous articles:
Labour proposal to allow councils to ban the FOBTs
Labour parliamentary debate to curb the FOBTs
Permalink
|
Reply (0)
| 
0 Previous Comments
May 2005 | June 2005 | July 2005 | September 2005 | October 2005 | November 2005 | December 2005 | January 2006 | February 2006 | March 2006 | April 2006 | May 2006 | August 2006 | October 2006 | January 2007 | February 2007 | March 2007 | May 2007 | June 2007 | July 2007 | January 2008 | February 2008 | March 2008 | April 2008 | June 2008 | July 2008 | September 2008 | October 2008 | December 2008 | January 2009 | February 2009 | March 2009 | May 2009 | June 2009 | July 2009 | August 2009 | September 2009 | October 2009 | November 2009 | December 2009 | January 2010 | February 2010 | March 2010 | April 2010 | May 2010 | June 2010 | July 2010 | August 2010 | October 2010 | November 2010 | December 2010 | January 2011 | February 2011 | March 2011 | April 2011 | May 2011 | June 2011 | July 2011 | August 2011 | September 2011 | December 2011 | February 2012 | May 2012 | July 2012 | August 2012 | March 2016 | April 2016 | June 2016 | November 2016 | December 2016 | March 2017 | May 2017 | June 2017 | August 2017 | August 2021 | October 2021 | May 2022 | December 2023 | May 2024 | Atom feed
© 2005 hundred percent gambling