Paddy Power Report 43% Loss in Revenue Since Stake Change

[StopandStep]

Paddy Power have reported a loss of close to 43% in gaming revenue since the stake change on the fixed odds betting terminals from £100 to £2 which happened on the 1st of April. Paddy Power is the first to report their earnings since the stake change. Ladbrokes/Coral (GVC Holdings) is due to report in early July, with William Hill due to report at close of business on 15th May. It's likely that William Hill, Coral and Ladbrokes will all show a similar pattern. 

[Stepandstop]

Didn’t think it would be as high as 43% but bookies have been going for decades they’ll survive odd branch close here and there 

i suppose when the football season finishes there takings will be down more 

[BlindHaze]

Just shows what we knew all along, they were taking advantage of problem gamblers.

[mjl5656]

They have done nothing to encourage the Roulette players move onto the  slots

and they have done even less to keep the slot players 

all they have done is reduced the RTP introduced more Compensaited machines 

lets face it if you don’t have a bet what’s the point of going to the bookies might as well go to local arcade and not have to put up with speakers blaring out , punters swearing and the screens

 

 

[Tony Bingo]

Good and I hope others are seeing the same drop in profits... thieving has been there game for years. Lots of redundancy and shop closure would be perfect... get it right up them... 

[Mentholdan]

Online slot players will suffer, payouts and bonuses will shrink. As someone who bets mostly on horses, I constantly have to ask shop staff to turn the race commentary volume up, its normally just a whisper. 

[mjl5656]

1 hour ago, Mentholdan said:

Online slot players will suffer, payouts and bonuses will shrink. As someone who bets mostly on horses, I constantly have to ask shop staff to turn the race commentary volume up, its normally just a whisper. 

Well you should go to my local bookies I normally walk out with a headache 

You only have to look at S & S latest video half empty shop and it’s so load you can’t even hear what he is saying 

as for on line casinos I think there is huge competition and much easier for people to shop about

Same as the brinks and mortar casino as shown yesterday the same Rainbow Riches Slot was giving 94% in one Casino 92% in another and 91% in the next one and the progressive with only 90%

so if anything the player will benefit by shopping around 

 

[The crisp man]

43% is about right as FOBTs contributed to 55% of revenue in 2018. It could have been a smaller drop if the bookermakefs had a desire to keep their slot players over arcades.  It looks like they're happy to close shops and push more business online. Which will hopefully be the regulators next call

[TheKingInTheNorth]

I was just going to put up a thread on this, looks like the reduction is really biting some according to the RP:

https://www.racingpost.com/news/independent-bookmakers-hit-hard-as-fobt-revenues-plummet-40-per-cent/378830

one comment is that “higher staking players have disappeared”...

Must admit I was heavy duty on roulette although I seldom turned off 50+ spins for a modicum of control but I would potentially lose up to £1k in a really bad session. That simply hasn’t happened since the change although I have had a £350 loss on Ladbrokes slots/ WH roulette (although I won £420 the next day and have only staked £100 since).

Ladbrokes as far as I can tell don’t have a roulette version like WH (unless I’ve missed it) which seems strange. I’ve had decent returns on WH roulette to be fair and I place the full £30 chips but it’s frustrating to watch the bar go red, red, red etc... I have played more slots, mostly RR PofG on the £2 premium, RR DofG on the £2 “super, mega or ultra” but again this can be deeply frustrating (like not get a set of super spins for £60 staked the other day) and I play KK Cash on £2 as well.

basically its just not the same (and that’s no bad thing), it bores me now and I’m playing less and less and I’ve noticed a difference in my bank account as well 🤣🤣.

The “recreational” slot players putting £20-£50 in will carry on I guess but for high stakes players (I include myself in that) the game is pretty much over!

[mjl5656]

I am surprised anyone is still playing in the bookies if you want to play roulette why not go to a proper casino or play on line

Even watching people at the bookies is very sad

[TheKingInTheNorth]

19 minutes ago, mjl5656 said:

I am surprised anyone is still playing in the bookies if you want to play roulette why not go to a proper casino or play on line

Even watching people at the bookies is very sad

To be fair a bit of slot play in there is harmless enough

[mjl5656]

On 5/4/2019 at 4:36 PM, TheKingInTheNorth said:

To be fair a bit of slot play in there is harmless enough

I was talking about Roulette in the bookies 

i simply can’t see the appeal anymore 

[TheKingInTheNorth]

6 hours ago, mjl5656 said:

I was talking about Roulette in the bookies 

i simply can’t see the appeal anymore 

Yeah I agree, the old slider is frustrating and boring

[Mentholdan]

It just shows the greed of the Bookmakers, instead of just concentrating on complying with the new laws they look for ways to get around them. 

[mjl5656]

38 minutes ago, Mentholdan said:

It just shows the greed of the Bookmakers, instead of just concentrating on complying with the new laws they look for ways to get around them. 

You are correct about that and the worse offenders are paddy power and Bet Fred 

And William hill close behind 

https://www.matchedbets.com/blog/paddy-power-betfred-forced-to-remove-new-games-from-retail-shops/