At today’s meeting of the Culture, Media and Sport Select Committee, Liberal Democrat spokesperson John Leech MP challenged Tory DCMS boss Sajid Javid MP to follow the evidence and reduce the stakes and prizes on fixed odds betting terminals (FOBT’s).
Currently, the machines in betting shops capable of taking bets of up to £100 a spin. Recent research shows that 5.4m of bets (3%) were at the maximum £100. This rises after 10pm to 6%. The average bet was £14.08
Between 70-80 per cent of sessions resulted in an overall loss to the gambler, with an average loss of £7 per session.
John Leech MP said today, “The evidence shows that there were 5.4million bets of £100 placed between Sept 13 and June 14, and one gambler lost over £13,000 in one session. To me that is a problem that needs tackling”
John added, “The Liberal Democrats would like to see the a reduction in the number of spins per minute and a reduction on the maximum bet. That would help reduce some of the big losses problem gamblers have currently.”