£2 Max Stakes Incoming?

[StopandStep]

A report in the FT suggests a a decision on the stake limits for online games will be made within the next 6 months. 

The full article is here: https://www.ft.com/content/b72084d2-4de7-11ea-95a0-43d18ec715f5 

Currently the only limits are those set by the providers, which is why we see slots with stakes often up to £500 per spin. Online roulette is only capped by the casino that hosts the game, with many going up to £10,000+ per spin. 
Fixed Odds Betting Terminals saw their stakes cut from £100 down to £2, could online be heading the same way? 

What are your opinions on this?

[Seaton-slots]

I hope so... up to £2 a spin is more than enough for the vast majority of players 

[Stepandstop]

Doesn’t effect me playing on 10p stakes personally you can still win big amounts off £2 

 

[cazza6565]

I usually only play £1 stake on most online games. 

Can we not read the FT article without subscribing.

[ghost22]

Shares in gambling companies hit following fears online stakes may be reduced

reduced

The Gambling Commission will decide in the next sixth months whether stakes for online gambling should be reduced

Racing Post

1 of 1

By Bill Barber5:06PM, FEB 13 2020

  

Bookmaker shares fell sharply on Thursday after it emerged the Gambling Commission had committed to decide in the next six months on whether stakes for online gaming should be reduced.

The regulator's chief executive Neil McArthur made the pledge when appearing before the influential Gambling Related Harm All-Party Parliamentary Group (APPG) on Wednesday.

Last November more than a billion pounds was wiped from gambling stocks after the APPG produced a report calling for the stakes for online casino games to be brought in line with those on FOBTs in betting shops, which were reduced to £2 in April.

After the latest news, William Hill shares were down more than seven per cent at 181.95p on Thursday afternoon, shares in Ladbrokes Coral's parent company GVC Holdings fell nearly six per cent at 876.6p, and Paddy Power Betfair's parent company Flutter Entertainment's share price was down around two per cent at 8,602p.

A spokesperson for the Gambling Commission said: "We said last October that we would be looking at online stake limits as part of our work to reduce the risks of gambling-related harm. 

"This work is in addition to us focusing on VIP practices, advertising technology and game design. We will publish our assessment and next steps for online stakes and further protections later this year."

The government has said it will review the 2005 Gambling Act, "to make sure it is fit for the modern age".

Trade body the Betting and Gaming Council said in a statement: "We want to have a betting and gaming industry in this country which is not just the best in class, but which also ensures we don’t drive people towards betting on harmful unregulated black markets.

"We're working hard with the Gambling Commission and with the government on their review to ensure effective regulation."

Analysts at Goodbody said that since the APPG published its report "this issue has seen increased interest from investors".

Goodbody questioned whether a limit would be introduced and also whether it would be as low as £2.

However, they added: "Certain politicians may not rest until a significant stake reduction is introduced."

 

from the racing post 5 mins ago 

[StopandStep]

Quote

Can we not read the FT article without subscribing

I looked on my mobile without subscribing, but it looks like on desktop it doesn't let you. It's pretty much what @ghost22 posted above.

[cazza6565]

Thanks Darren.

One of the few things I miss was reading the Racing Post daily when I worked in the bookies.

Although it was stolen on a regular basis so had to read it in the morning.

[Faz42]

It can only be a good thing let's be honest.  It's silly to have unrealistic stakes.  If people want to play higher have high stakes casinos for them.  

[Jailor]

To be honest for a start I think there are more people who play 50p - £2 stakes who can’t really afford it than the players who used to play the Hi Roller slots or Roulette high stakes,however I do believe the stakes needed to be lowered especially when you could still only win £500 from a £100 bet although in the Early days I remember Ladbroke allowing at least £50 to be put on a single number which was a lot better in my opinion?

I also like to use the bookies/arcades so I can use cash which is a lot harder to lose (or get a lot more of instantly) than clicking a button on the internet and £1000s disappearing if you’re on tilt chasing your losses which has to be a gamblers biggest worry/problem.