Ladbrokes and William Hill fall on reports of betting terminal crackdown

8th Dec 2016 10:04

(ShareCast News) - A report that hinted at a potential government crackdown on fixed odds betting terminals sent shares in bookmakers Ladbrokes Coral and William Hill tumbling on Thursday.FOBTs should have their maximum stake cut from £100 per spin to as low as £2, a group of Conservative and Labour MPs has suggested, according to The Times. A report by the fixed odds betting terminals all-party parliamentary group stated there was a "prima facie" case to cut the maximum stake slow the speed with which bets can be made and the number of terminals that can be housed in each bookmaker's shop.Based on the evidence of its research, group chairwoman Carolyn Harris said: "From the evidence presented to us . . . the group sees a strong case for the stake being set at £2. This call is supported by many members of parliament, from all political parties and in both houses. It is also supported by a significant majority of the public."At the very least, the stake should be reduced on FOBTs on a precautionary basis. The government has a duty to protect the most vulnerable in our society and to act in the public interest."Ladbrokes was down 7% to 118.4p and Hills was down 8% to 286.6p.