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02 Apr 19
18:28
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Date Joined:
02 Mar 08
Back to the news that Paddy Power Betfair and BetFred have dropped new games which they launched in response to the cut in the maximum stakes playable on fixed-odds betting terminals (see earlier posts).
The regulator, the Gambling Commission, said the products were pulled following a warning it issued to the bookmakers. The firms could still face "regulatory action as the Commission continues to investigate".
It added that a third bookmaker which had been poised to launch a new product had also been "warned".
"This week saw the introduction of reduced maximum stakes on FOBTs from £100 to £2 and the Commission is concerned that the new products undermine the changes made," it said.
The Gambling Commission said it might also investigate "key senior staff" at bookmakers who were responsible for launching the games which were pulled earlier on Tuesday. The Commission’s chief executive Neil McArthur wrote to bookmakers to warn the industry against "any attempts to circumvent the FOBT stake cut and remind them of their responsibilities to ensure their consumers are protected".
Richard Watson, executive director for enforcement, said “We have been absolutely clear with operators about our expectations to act responsibly following the stake cut implementation this week.
"We have told operators to take down new products which undermine the changes, and we will investigate any other products that are not within the spirit and intention of the new rules.’’
some good news !
The regulator, the Gambling Commission, said the products were pulled following a warning it issued to the bookmakers. The firms could still face "regulatory action as the Commission continues to investigate".
It added that a third bookmaker which had been poised to launch a new product had also been "warned".
"This week saw the introduction of reduced maximum stakes on FOBTs from £100 to £2 and the Commission is concerned that the new products undermine the changes made," it said.
The Gambling Commission said it might also investigate "key senior staff" at bookmakers who were responsible for launching the games which were pulled earlier on Tuesday. The Commission’s chief executive Neil McArthur wrote to bookmakers to warn the industry against "any attempts to circumvent the FOBT stake cut and remind them of their responsibilities to ensure their consumers are protected".
Richard Watson, executive director for enforcement, said “We have been absolutely clear with operators about our expectations to act responsibly following the stake cut implementation this week.
"We have told operators to take down new products which undermine the changes, and we will investigate any other products that are not within the spirit and intention of the new rules.’’
some good news !
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Fixed-odds betting terminalReutersCopyright: Reuters
Bookmaker chain Betfred has pulled a game it launched as part of its response to the cut in the stake on fixed-odds betting terminals (FOBT).
On Monday, the maximum stake that can be played on FOBTs was cut from £100 to £2, in an attempt to cut the risk of players losing large amounts of money in a short space of time.
However, Betfred and Paddy Power introduced virtual roulette-style games.
Earlier on Tuesday a Betfred spokesman said betting shops had gone through "seismic changes" meaning that many would no longer be viable "given the new restrictions on fixed odds betting terminals".
"In an attempt to grow our over-the-counter business, we've therefore introduced a number of special offers on a wide range of sports, and have also revamped our virtual channel with new virtual horse-racing and a new virtual cycling game.
Bets on these manchines are placed over the counter, rather than in the machines.
But Helen Venn, executive director at the Gambling Commission, said: "We are aware of these products and we are investigating.
"Where we see businesses failing to act responsibly in response to the stake reduction we will not hesitate to step in."
Now, Betfred has pulled the machines and said: “We’ve taken down Virtual Cycling to allow further discussion with the Gambling Commission.”
Bookmaker chain Betfred has pulled a game it launched as part of its response to the cut in the stake on fixed-odds betting terminals (FOBT).
On Monday, the maximum stake that can be played on FOBTs was cut from £100 to £2, in an attempt to cut the risk of players losing large amounts of money in a short space of time.
However, Betfred and Paddy Power introduced virtual roulette-style games.
Earlier on Tuesday a Betfred spokesman said betting shops had gone through "seismic changes" meaning that many would no longer be viable "given the new restrictions on fixed odds betting terminals".
"In an attempt to grow our over-the-counter business, we've therefore introduced a number of special offers on a wide range of sports, and have also revamped our virtual channel with new virtual horse-racing and a new virtual cycling game.
Bets on these manchines are placed over the counter, rather than in the machines.
But Helen Venn, executive director at the Gambling Commission, said: "We are aware of these products and we are investigating.
"Where we see businesses failing to act responsibly in response to the stake reduction we will not hesitate to step in."
Now, Betfred has pulled the machines and said: “We’ve taken down Virtual Cycling to allow further discussion with the Gambling Commission.”
piddy poor
We offer our retail customers a range of number-based betting products and this game was introduced as part of a short trial in a selection of shops. This trial concluded earlier today and we will now assess the customer response and feedback before deciding whether to launch it more widely.
We offer our retail customers a range of number-based betting products and this game was introduced as part of a short trial in a selection of shops. This trial concluded earlier today and we will now assess the customer response and feedback before deciding whether to launch it more widely.
They've speeded up some of the games and changed their "offers" to reflect the lack of roulette.
The bigger the betting firm, the bigger the dodgy dealings.
The bigger the betting firm, the bigger the dodgy dealings.
THIEVES WHO SPONSOR SPORT WHERE CHILDREN ARE INDOCTRINATED......................STOP IT.....NOW....
Fred Done gives away 7 figures to charity whilst not only circumventing the new rules but 5-folding the max bet
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