'Gambling limit of British betting offices'

'Gambling limit of British betting offices'

World January 22, 2018 13:42

- A catastrophe is threatening for the British horse races. To counter gambling reporting, the government introduces a maximum of up to £ 2. That was £ 100. The quoted listed companies then plummeted.

Due to the drastic limitation on betting terminals of the bet, ten thousand jobs will disappear in the gambling and horse sector, warns the online gambling company Ladbrokes Coral. This is the largest office on the island.

On Monday, Ladbrokes' share of the stock market lost £ 800 million in market value. The big competitor William Hill fell 13% on the British stock market.

The curtailment has major consequences. The classic British 'bookies' in shopping centers, the gambling houses, now reach half of their total revenue from online betting.

The measure has not yet been implemented. The Ministry of Culture, Media and Sport 'consults' the sector on the reduction of £ 100 to £ 50 to £ 2 per bet. The intervention would be necessary to prevent gambling addiction. Many betting machines are in deprived neighborhoods where the capacity of the rising losses would arrive faster.

The consultation ends on Tuesday. Ladbrokes states that the limitation of the deposit to £ 2 does little to the gambling lust. Earlier interventions would have proven that.

For Ladbrokes the measure comes at the wrong time: the online game specialist GVC tries to take over Ladbrokes. If the betting limit is set at £ 50 per bet, GVS would still pay £ 3.9 billion. If the limit comes to £ 2, the hunter will still have £ 3.2 billion left for one of the country's most famous gambling offices.

According to research by KPMG, at £ 2 maximum deposits, 3,000 gambling stores will have the chance to disappear, accounting for some 15,000 jobs.

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