Published: 02.04.2019, 12:50
2 min read
On April 1st, a betting lockdown law came into force in the UK. From now on, slots will not offer bids from £100 ($130).
2-year-long disputes on rate cuts have concluded that such high rates are unacceptable. Today, maximum slot bids will be offered at only £2 ($ 2.60).
Such changes were expected to lead to the closing of gambling shops and increased unemployment, regardless of the Brexit outcome. To compensate for the losses, companies will have to find out a solution to the problem in the light of new legislation.
The UK Gambling Commission (UKGC) has already issued a warning to one of the game developers. The Commission noted that the new machine, designed to be introduced into the work in accordance with the new FOBT legislation, does not meet the requirements. In addition, it was noted that the work on the protection of gambling consumers will be conducted more carefully.
Last year, it was assumed that with the introduction of new legislation, more than 4,500 gambling venues would be closed, which is half of the total gambling market.
The Association of British Bookmakers predicted that a decrease in the gambling market would entail the elimination of 20,000 workplaces.
However, it seems that the assumptions about the increase in unemployment with the introduction of 2-pound rates were overrated. In fact, it turned out that the changes resulted in only mixed reviews, but did not result in significant changes.
Gambling operators also expressed an ambiguous point of view. It has already been noted that 71 out of 1000 places will be closed. William Hill is developing an alternative solution to the problem, while Paddy Power has decided not to risk and will continue to work as usual in order to avoid losses.
