UK Bookmakers to Close a Quarter of Betting Shops
Recently updated on July 7th, 2019
The government’s clampdown on fixed-odds machines has led to a scheduled closure of about a quarter of betting shops in the UK. This move could see up to 3 000 out of 8 400 betting shops closing in the country, putting about 12 000 jobs at risk. William Hill, which is the latest bookmaker in the spotlight, plans to shut around 700 betting shops. The UK government’s decision to reduce the maximum stake on the terminals from £100 to £2 was in a bid to help problem gamblers and vulnerable people. Read more on the story below!
About UK Betting Shops & Fixed-Odd Terminals
In April, the UK government decided to reduce the maximum stake for fixed-odds machines to £2. This was after several complaints were lodged about the machines allowing gamblers to bet up to £100 every 20 seconds. The concern was that the terminals were highly addictive and they allowed gamblers to lose quite a lot of money.
Shutdown Plans – William Hill, GVC & Others
Since the new regulation, a lot of betting shops, including the likes of William Hill, GVC and Betfred among others suffered in revenues. GVC is the owner of Ladbrokes Coral and has since announced plans to shed jobs. These bookies claim that the terminals contributed about half of their annual revenues. On Thursday, William Hill said that they could close up to 700 high-street shops. If that happens, exactly 4 500 jobs will be at risk.
“William Hill has entered into a consultation process with retail colleagues over plans to close around 700 licensed betting offices,” the bookmaker said in a statement.
“This follows the Government’s decision to reduce the maximum stake on B2 gaming products to £2 on 1 April 2019. Since then the company has seen a significant fall in gaming machine revenues, in line with the guidance given when the government’s decision was announced in May 2018. A large number of redundancies is anticipated with 4,500 colleagues at risk,” the company added.
William Hill plans to start shutting betting shops by the end of 2019.
More Recent News:
Published by Taralynn
July 7, 2019
Categorie(s): Latest News, New Zealand, North Island, South Island
About the Author
Taralynn Engels is a seasoned casino news writer with a passion for keeping her readers up-to-date with the latest happenings in the gambling industry. With over five years of professional writing experience, Taralynn has developed a deep understanding of the casino industry and a knack for delivering engaging and informative content.
Aside from her in-depth knowledge of the casino industry, Taralynn possesses excellent writing skills that allow her to craft captivating narratives that keep readers hooked until the last word. Her ability to simplify complex concepts and present them in an accessible manner guarantees that her articles are enjoyed by both seasoned casino enthusiasts and newcomers alike.
More Posts from Taralynn.
Related Posts
Published by Taralynn
March 22, 2018
Categorie(s): Big Wins, Latest News, New Zealand, North Island, South Island
Recently updated on March 22nd, 2018At least four individuals are being detained by the Bulgarian General Directorate Combating Organized Crime (GDCOC) cybercrime unit for hacking slot machines. These individuals defrauded many land-based casinos using a ‘sophisticated scheme.’ At the moment, it’s unclear how much they stole during their scheme. However, they will be charged through […]
Published by Taralynn
January 3, 2018
Categorie(s): Big Wins, Latest News, New Zealand, North Island, South Island
Recently updated on January 3rd, 2018It would seem that 2018 will finally see the final Queensland casino resort being built. After many failed deals and issues for developers, the Destination Brisbane Consortium has won a bid. However, the troubles of Queensland’s next casino may be repeated for the Aussie company. Other bids were consistently opposed […]
Published by Mark
April 7, 2019
Categorie(s): Big Wins, Bonus Codes, High Payouts, Latest News, New Zealand, North Island, Promotions, South Island
Recently updated on April 7th, 2019House Bill 629 for lottery tickets has survived a vote in the House Commerce Committee. The approval of the bill paved its way for a full House floor appraisal. A matching piece of legislation was presented in the Senate, but that it is still yet to be reviewed by members […]
Published by Taralynn
April 17, 2019
Categorie(s): Latest News, New Zealand, North Island, South Island
Recently updated on April 17th, 2019Credit card gambling could soon be banned in the United Kingdom. The risks of credit card gambling have been brought forward by the Labour Party. What’s more, the statistics behind the proposal show that citizens spend up to £8.6 billion (NZ$16.65 billion) a year on gambling with credit cards. When […]
Published by Taralynn
September 14, 2019
Categorie(s): Big Wins, Bonus Codes, High Payouts, Latest News, New Zealand, North Island, Promotions, South Island
Recently updated on September 14th, 2019Casino gaming giant, Microgaming is increasing its independent studio roster with the addition of Neon Valley Studios. The new partnership has already yielded new casino games for NZ players to enjoy. The association with the Microgaming allows players to receive the most popular story-driven casino pokies games with state-of-the-art graphics. […]
