Carolyn Harris MP
Statement on the CEBR report on Fixed Odds Betting Terminals
“I welcome the Centre for Economics and Business Research’s (CEBR) thorough, timely and important research into Fixed Odds Betting Terminals which sets out a clear rationale for reducing the stake on to £2.
I am concerned about the impact these harmful machines are having on people’s lives and this report shows the financial benefits to the whole of society from reducing the stake. In particular, it sets out that the benefits of stake reduction will be felt most by those lower down the income scale.
The report also shows that if the stake is reduced to £2 there will be significant reductions in problem gambling which is costing the government £210m annually and stake reduction will deliver an overall net benefit to the economy.
The research indicates that the government has also significantly over estimated the potential losses to bookmakers if stakes are reduced. These could be up to 47% lower.
The Government must act now take decisive action to deal with FOBTs and reduce the stake to £2.”