UK govt brings FOBT wager cut forward

News on 15 Nov 2018

The UK Government’s Fixed Odds Betting Terminal (FOBT) maximum wager limit cut will be brought forward from October 2019 to April 2019, UK Culture Secretary Jeremy Wright confirmed Wednesday.

The wagering limit cut from GBP 100 to GBP 2 was announced by Philip Hammond during the 2018 Budget at the end of last month (see previous reports) but Government was severely criticised for pushing the implementation of the measure out to October 2019.

Described as a policy U-turn, the move is largely seen as the Government bowing to pressure from over 100 Parliament members and other stakeholders.

“The government has been clear that protecting vulnerable people is the prime concern, but that as a responsible government it is also right to take the needs of those employed by the gambling industry into account and provide time for an orderly transition,” a written statement said.

“Parliament has, however, been clear that they want this change to be made sooner. The government has listened and will now implement the reduction in April 2019.”

A hike in remote gambling tax rates will also be brought forward to April 2019 to cover tax shortfalls from the FOBT limit cut.  The rate increases from 15 percent to 21 percent.

Related and similar