UK bookmakers cut back after fixed-odds machine curbs. Here is a summary of the impact on British bookmakers:
) plans to close 700 betting shops, putting 4,500 jobs at risk, after Britain in April cut the maximum stake on fixed-odds betting terminals.
The British government had rejected industry suggestions when it proposed the cut in maximum stake to 2 pounds from 100 pounds that such a big reduction could jeopardise thousands of jobs. The terminals were introduced two decades ago and gradually supplanted betting on sports such as horse racing as the main activity in Britain’s 8,500 high street betting shops.
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