The implementation of the £2 maximum stake for Fixed Odds Betting Terminals (FOBTs) will help stop extreme losses by those who can least afford it.
The Government has always 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. Parliament was clear that it wanted this change to be made as soon as possible, and I am pleased that the Government has listened. The reduction will now come into effect in April 2019.
The corresponding increase in remote gaming duty to 21 per cent will also come into effect at this time to cover the negative impact on public finances, and to protect vital public services.
The introduction of the stake reduction will help stop extreme losses by those who can least afford it and protect the most vulnerable in society.