iGaming Business – The Scottish National Party (SNP) has become the latest political party to speak out against fixed odds betting terminals (FOBTs) and has called for “sensible regulation” of such machines in the UK.
Gamblers in Scotland staked a reported £4.4 billion (€5.3 billion/$7.4 billion) on the machines last year, an increase of more than £100 million on the amount spent in the previous year.
SNP politician Stuart McMillan has joined a number of political figures in backing the Fairer Gambling Campaign’s call to reduce the current maximum stake on FOBTs from £100 to £2.
UK chancellor George Osborne announced in his 2014 Budget that the rate of tax on FOBTs would be increased from 20% to 25%.
The government also plans to make voluntary warnings introduced under a code of conduct by the Association of British Bookmakers to become tougher and mandatory.
McMillan, who led a debate on the issue of FOBT regulation in The Scottish Parliament, said Scotland is powerless to act upon the machines unless it becomes independent and it is down to the UK government to push regulation forward.
“As things stand at the moment it is possible to blow £100 on a 20 second spin,” McMillan said. “That’s £300 in a minute – or £18,000 in an hour – so it is little wonder that FOBTs have become known as the ‘crack cocaine of gambling’.
“Speaking with former gamblers and hearing of their experiences with FOBTs has been a real eye opener to me. But it has also been encouraging to hear how they have managed to transform their lives by seeking help to overcome their addiction.
