In previous bulletins we have been keeping an eye on this issue. Britain has nearly 450,000 problem gamblers. Fixed odds betting terminals are largely based in poorer areas. £1.8 billion was lost playing on these machines last year. A gambler can spend £300 in a minute and many are on the minimum wage. The government review is recommending that the stake is reduced from £100 to a figure somewhere between £2 and £50. This is so broad as to be meaningless. All is not yet over and the government has yet to make a decision. Many ministers are in favour of lowering the stake to £2,but they face stiff resistance from the Treasury. Shares in William Hill rose by 2.34% as a result of this review. This tells us how the wind is blowing. It feels like the only people likely to hit the jackpot are the bookies.
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