Mor Weizer, chief executive of London-based Playtech, the world's largest supplier of online gaming and sports betting software, says sports and horse betting would benefit if the United Kingdom (UK) government implements its plan to cut stakes on fixed odds betting terminals (FOBT’s).
According to Weizer, UK betting companies would be able to utilize a loophole that puts no limit on the number of sports betting machines in a bet shop thus pushing the FOBT business towards sports betting.
The Conservative administration in the UK is currently deciding on a new lower top limit per play for fixed odds betting terminals after a review showed that the current 100 pound ($139) limit fuels addiction that drives casual gamblers into debt.
Major gambling operations such as William Hill and Ladbrokes have warned of job losses and shop closures if the stake is cut to as low as 2 pounds on the touch-screen machines that allow players to bet various casino games.
“I believe that if FOBTs would be impacted, self-service betting terminals (SSBTs), a similar machine for sporting results, would enjoy additional benefits,” Weizer told Reuters in an interview last week.
There are nearly 8,800 betting shops in the UK and each is allowed a maximum of four FOBTs. There is no cap on the number of sports machines, which allow players to bet on the results of soccer games or horse races.