The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Trust me the real damage to this share price has not even unfolded yet . Once the £2 fobts stake is in implemented the reality of the disaster will unfold . This share price is going downward it's just a matter of time
Oh dear why did you not sell when I told you to do when the price was 320
This price is going to plummet when half the high street betting shops close . No future prospects here I told you to sell when the price was £3.20 its only going to get worse
Listen all the betting shops and mostly the new ones that have sprung up over the last year's are big purpose built shops in city and town centres most are state of the art new build buildings which demand a high business rate and overheads . They had it all good massive turnover and profits from the fobts made them viable . Now take away the fobts which on essence is what is happening with the £2 stake and the shops will be impossible to run they are all non viable . The high street bookmakers as we know it now is finished . They cannot survive without the fobts FACT
Are you crazy ?. The £2 maximum stake on fobts is going to cut profits at a monstrous scale . The high street bookmakers only survive because of the fobts , once the £2 stake is implemented nearly all the shops will close FACT
Why would anyone buy into William hills The shares are going to plummet once the fobts £2 stake is in place The high street shops as we know them will be mostly gone The shops only survive on the takings of the fobts They cannot survive anymore
The £2 limit backed by 93 local authorities, the Royal Society for Public Health and the Church of England’s General Synod is expected to help protect vulnerable people from major losses, but industry experts consider the amount too low, making the machines practically unplayable. Earlier this month, executives from different leading UK betting firms have sent a letter to Culture Secretary Matt Hancock in an attempt to prevent the £2 stake limit on FOBTs. William Hill, Betfred, Scotbet, GVC and Jenningsbet said that a £2 limit would have a “catastrophic impact on jobs and the economy,” and they called on the Culture Secretary to not sacrifice betting shops. “A maximum stake of £2 on FOBTs is a de facto ban on the machines as the games are not feasible at that level,” they said. The executives said in the letter that a KPMG analysis estimates that a £2 stake would result in 21,000 direct job losses and that half the betting shops would close. That would also result in an HM Treasury loss of £1.1 billion over the next three years, a £45 million loss to local authorities and £50 million to the British Racing every year.
The betting shops only survive because of the fobts and roulette . Reducing the stake to £2 will in effect make the roulette game unplayable because of the nature of the game . At £2 stake you would not be able to spread the bets out on the roulette board like I said the game will be unplayable and considering that nearly all the profits from the fobts come from roulette profits will be seriously reduced . There is no way out for the bookies . Shop closures and diminished profits are a certainty. The high street bookies are finished
Yes the businesses will adapt by closing shops . Shortening opening hours . Making staff redundant all to compensate in loss of takings and profits . The free money that the fobts have provided for the bookies has come to an end . Profits are going to be seriously reduced along with the share price .
Yes the businesses will adapt by shop closures , none of this 10pm closing , they will close et en racing finished at 5pm like they used to . Shorter opening hours less executive staff for example shop business performance managers etc. This £2 minimum stake us going to have dramatic consequences there is no doubt about it
Not a chance ,.once this £2 has been implemented the actual severity of the impact on loss of profits will become very evident . Without the fobts the betting shops will disintegrate.
If they weren't going to shitt on their own they would have reduced the stakes to £20-30 but they didn't they reduced them to £2 the most severe option . The £2 stakes has been confirmed it's happening make no mistake .
What do you mean £2 stake on fobts you don't believe it's going to happen? Of course it's going to happen the government have declared it. It's now going through the process of going through parliament etc.and will be implemented that's for sure
No good comes out of those betting shops once the £2 spin gets implemented most of the shops will close. They have brought it on themselves allowing rigged fobts, facilitating money laundering etc. Will be glad to see the back of them
Racing Post Home Menu Next Race Accounts My Account Search News FOBT ANNOUNCEMENT Q&A What happens next? Your questions answered after government decision FOBT stakes are to be cut to £2 FOBT stakes are to be cut to £2 1 of 1 By Bill Barber 6:21PM, MAY 17 2018 What happens next and when will the changes be implemented? A £2 stake will not come in until 2019 at the earliest and possibly not until 2020. The changes will be made after going through parliament in the form of an "affirmative statutory instrument". However, before that can happen the changes have to be submitted to the EU technical standards and regulations directive due to the effect on machine manufacturers. That process will take three months. Once the changes have been accepted by parliament, bookmakers will also have to be given a period to implement them. The only impediment could be a legal challenge. What will the effect be on racing? Racing has warned the decision to cut FOBT stakes to £2 would result in the sport losing £40 million to £60 million in lost media rights and levy income. That would wipe out the expected increased income from the government's recent levy reforms, which is thought to amount to more than £40m for the last levy year. How will the shortfall be made up? The government has said it would review the levy which could be extended to bets on global racing and could partially offset any reduction. It has been estimated that could bring in a further £15m. What will the effect be on bookmakers? Bookmakers have warned 4,000 betting shops and 21,000 jobs could be lost through a £2 stake on FOBTs, although not all those closures would happen immediately. Analysts at Regulus Partners estimated around 3,700 shops would close over five years, with independents hit hardest, along with a 66 per cent fall in earnings for the betting shop sector. What will happen to online operators? In order to fill the hole left in public finances from lost tax income from FOBTs, the government said the change would be linked to an increase in Remote Gaming Duty, paid by online gaming operators, probably announced in the Budget in November. What else has the government announced? The government has unveiled a number of other moves which would affect gambling including stronger age verification rules and proposals to set limits on consumers’ spending until affordability checks have been conducted in online betting, more responsible gambling promotion, an investigation into the public health aspects of gambling and a review of the age limits on National Lottery games. What hasn't been included? Gambling advertising is the most complained-about aspect of the sector but the government has resisted bringing in tougher rules about when advertising can be shown. There was also no news on a statutory levy to fund the fight against problem gambling.
I knew the stake would be reduced to £2 it was all over the media that the culture secretary was going for the £2 option. I didn't know that it would be until next year at the earliest that they would implement it . So all evidence overwhelming states that anything over a £2 limit caused severe harm yet they allow it to go on for at least another year
The share price dropped 18% two weeks ago when it was rumoured that the culture secretary favoured the £2 limit . I knew that a £2 limit would be announced and wants confirmed I thought that the price would drop again a bit more buy it's actually gone up . It's win win the £2 limit has been confirmed and will protect problem gamblers and the share price has gone up 😀
I warned you all two days ago that the £2 limit was coming and told you to sell
The fobts decision will be made tomorrow , Thursday