Bob Seely asked the government to cut stakes on FOBTs as Isle of Wight gamblers lost £3 million last year.
UK.- Isle of Wight MP Bob Seely has urged the United Kingdom to cut stakes on fixed odds betting terminals (FOBTs) as it was recently discovered that Island players lost £3 million to the machines just in 2016.
As Island Echo reported, the 55 FOBTs in 26 locations in Island of Wight reported that £63 million were gambled, whilst £2.9 million were lost in 2016. It is estimated that in just eight years Island gamblers lost £20 million. Seely wants to reduce the current £100 maximum stake that can be spent in 20 seconds to £2, but it seems like he would have to wait until the Government’s report on what it will do on the subject until next month.
“FOBTs are causing addiction and misery and the sums bet on these machines, just on the Island, are quite frankly staggering and an enormous cause for concern. I’m pleased the Government is reviewing their use and I very much hope it will cut the stakes drastically.”
And he added: “There is plenty of evidence that the many tens of thousands of these terminals across the country are doing significant harm. This is unacceptable. The betting industry needs to be better regulated on the use of these machines which have driven vast profits for them over the last decade. I do understand that the industry contributes to the economy and employs many people, but I feel it has not done enough to stop problem gambling. Government needs to intervene.”