GVC Holdings Overcomes FOBTs Stake Restriction by a New Sports Wager
Later during last year, the debate regarding cutting down the maximum wager for Fixed Odds Betting Terminals had closure, and the maximum bet of these machines got cut down from 100 to 2 pounds. The decision is going to become active this year, and it seems that operators have woken up from the shock, and they are starting to take countermeasure. The first to react and take action is GVC Holdings, which is the umbrella that has multiple brands under like Ladbrokes and Gala Coral. It has announced that they are going to extend the Bets-Odds guaranteed offer to all over the counter wagers.
Customers of both brands, Ladbrokes and Coral, will be able to utilize this offer from 8 am, every day. The proposal is going to include the Lay To Lose wagers, but will only be eligible for the initial £100 of a particular bet.
Ladbrokes Comments on the New Offering
The Public Relation Director of Ladbrokes, Simon Clare, commented on this move by saying that this is the best offer to make it to the high street. He also added that this shows the company’s interest to face up to the new betting shop era, which will start on April the 1st. He said that without a doubt, a seismic change in the wagering shops is going to happen when the restrictions of the FOBT wagers become effective. They are now making pre-emptive moves with the new wagering shop offer, which is going to boost the horse racing business, and the football markets as well, as they prepare for the upcoming challenge.
To make sure that the news of the brands’ new offer spreads quickly the companies are going to focus on marketing campaigns and programs that they will launch via social media, betting shops and the press. The new cuts to the FOBTs from £100 to £2 is going to be effective in April the first, and everyone in the industry is expecting that it will cause a decrease in the revenue for the UK bookmakers. The legislation is predicted to cause the closure of more than 1000 betting shops, according to numbers from Ladbrokes Coral. Simon Clare also added that while the betting shops will have to close because of that, there is a big chance to re-energize and focus the remaining ones to be more social, and vibrant sports-wagering shops where UK residents can come and enjoy a flutter while enjoying live sporting and horse racing events. He also added that he expects horse racing to be the pivotal sport in the new vision for the future.
He stated that by adding the most disincentive best-odds guaranteed wagers to these shops, they had removed the most significant betting difference between online wagering and betting shops. They hope that this is going to result in a considerable upturn in the racing business levels during the upcoming months and that it will help the company in overcoming the loss caused by the cut in the maximum stake of the FOBTs.