London High St bookies could lose 1000 out 1800 shops.

[Sancho Panza]

SBC News 15/3/17

'Speaking to The Evening Standard on the opening day of the 2017 Cheltenham Festival, Ladbrokes Coral CEO Jim Mullen has warned the UK government that stringent limits on fixed-odds-betting-terminals (FOBTs) could force the closure of bookmakers and risk a significant number of job losses.

UK bookmakers await the publication of the Department for Culture, Media and Sport (DCMS) official industry review this April. The review is set to focus on two key areas, FOBTs wagering requirements and industry advertising practices.

At present the machines have a maximum stake of £100, however campaigners and number of politicians have asked the government to limit maximum FOBT’s bets to £2, stating concerns attached consumer problem gambling.

Ladbrokes Coral CEO Mullen has been the most outspoken industry leader with regards to the FOBTs debate demanding that the government undertake a fair review of the industry, considering its numerous stakeholders.

Detailing industry concerns, Mullen states that a significant reduction in wagering levels could lead to a wipeout of costly London’s 1800 betting shops, which employ more than 9000 workers.

“In London alone, potential shop closures could hit nearly 1000, with nearly half of all employees, 4300, losing their jobs, and a potential tax loss to the Exchequer from these London shops alone of £230 million by 2020”.'

 

Digital Look 15/2/17

'HSBC downgraded shares in William Hill, Ladbrokes Coral and Paddy Power Betfair as they face a consumer spending slowdown and a series of other risks in the coming months.

Hills and Laddies were moved to 'reduce' ratings from their previous 'hold' and PPB to 'hold' from 'buy'.

As well as the well-established threats around fixed odds betting terminals, HSBC said investors should also consider the possibility of a consumer slowdown among other risks, such as intense competition online, tightening regulation and higher levies/taxes - not all of these risks will necessarily materialise but "the balance is negative".

With the government’s FOBT investigation due to conclude in before June, any cut to maximum stakes, as seems likely after it was suggested by the parliamentary committee investigating the industry, this would lead to cuts to the company's forecast.

HSBC analysts estimated that share prices are building in a cut to a maximum limit of £10-£20 from the current £50 “soft” threshold, "but it’s the risks beyond this that might not be priced in".'

 

 

What will our High St's look like without Bookies and Letting Agents............?

 

 

 

 

 

[ChewingGrass]

Smartphones, business rates, staff costs, big players and laziness of punters are killing High St.Bookies.

[spyguy]

20 minutes ago, Sancho Panza said:

SBC News 15/3/17

'Speaking to The Evening Standard on the opening day of the 2017 Cheltenham Festival, Ladbrokes Coral CEO Jim Mullen has warned the UK government that stringent limits on fixed-odds-betting-terminals (FOBTs) could force the closure of bookmakers and risk a significant number of job losses.

UK bookmakers await the publication of the Department for Culture, Media and Sport (DCMS) official industry review this April. The review is set to focus on two key areas, FOBTs wagering requirements and industry advertising practices.

At present the machines have a maximum stake of £100, however campaigners and number of politicians have asked the government to limit maximum FOBT’s bets to £2, stating concerns attached consumer problem gambling.

Ladbrokes Coral CEO Mullen has been the most outspoken industry leader with regards to the FOBTs debate demanding that the government undertake a fair review of the industry, considering its numerous stakeholders.

Detailing industry concerns, Mullen states that a significant reduction in wagering levels could lead to a wipeout of costly London’s 1800 betting shops, which employ more than 9000 workers.

“In London alone, potential shop closures could hit nearly 1000, with nearly half of all employees, 4300, losing their jobs, and a potential tax loss to the Exchequer from these London shops alone of £230 million by 2020”.'

 

Digital Look 15/2/17

'HSBC downgraded shares in William Hill, Ladbrokes Coral and Paddy Power Betfair as they face a consumer spending slowdown and a series of other risks in the coming months.

Hills and Laddies were moved to 'reduce' ratings from their previous 'hold' and PPB to 'hold' from 'buy'.

As well as the well-established threats around fixed odds betting terminals, HSBC said investors should also consider the possibility of a consumer slowdown among other risks, such as intense competition online, tightening regulation and higher levies/taxes - not all of these risks will necessarily materialise but "the balance is negative".

With the government’s FOBT investigation due to conclude in before June, any cut to maximum stakes, as seems likely after it was suggested by the parliamentary committee investigating the industry, this would lead to cuts to the company's forecast.

HSBC analysts estimated that share prices are building in a cut to a maximum limit of £10-£20 from the current £50 “soft” threshold, "but it’s the risks beyond this that might not be priced in".'

 

 

What will our High St's look like without Bookies and Letting Agents............?

 

 

 

 

 

You forgot coffee shops ...

 

[Rave]

Reducing the max stake on FOBTs will make money launderer's lives more difficult but in my experience it's rare to see actual punters doing more than £2 a spin, unless they've got 2/3rds of the roulette table covered in their favourite lucky pattern. It's still quite rare to find an empty bookie but maybe not as rare as it was. I'm often surprised how pleased they seem to be taking my £50-100 stakes despite the fact that I'm not very good at hiding the fact that I'm arbing.

[frederico]

Err just me that thinks high Street bookies are a blight then.

[Rave]

Probably not just you, but I have a strong financial interest in them remaining, so...

[One-percent]

8 minutes ago, spyguy said:

You forgot coffee shops ...

 

And charity shops   But guess that those are here to,stay

[999house]

52 minutes ago, Rave said:

Reducing the max stake on FOBTs will make money launderer's lives more difficult but in my experience it's rare to see actual punters doing more than £2 a spin, unless they've got 2/3rds of the roulette table covered in their favourite lucky pattern. It's still quite rare to find an empty bookie but maybe not as rare as it was. I'm often surprised how pleased they seem to be taking my £50-100 stakes despite the fact that I'm not very good at hiding the fact that I'm arbing.

I used to work for a bookies and the FOBTs brought in 200m a week in bets. Fact

Edited March 26, 2017 by 999house

[Rave]

1 minute ago, 999house said:

I sued to work for a bookies and the FOBTs brought in 200m a week in bets. Fact

Sure, but I'm not convinced that very much of that was people actually risking £100 a spin. A drug dealer washing a grand through on roulette only gifts the bookie £24 on average, or 12 quid if he's able to play French Roulette, I guess.

[dgul]

They're rubbish.  

They should be offering odds on there being fewer than 800 betting shops in London by 2020..

[nnails]

The amount of betting adverts on TV there must be money somewhere

[CunningPlan]

1 hour ago, frederico said:

Err just me that thinks high Street bookies are a blight then.

Nope. I am with you. I also think advertising gambling should be banned. 

Edited March 26, 2017 by CunningPlan

[South Lorne]

2 hours ago, ChewingGrass said:

Smartphones, business rates, staff costs, big players and laziness of punters are killing High St.Bookies.

..agreed..a bit like bank branches ..even in the 80's they were predicted to become pubs and pizza outlets....now it's the bookies turn ..sign of the internet....

Edited March 26, 2017 by South Lorne

[Bear Hug]

3 hours ago, frederico said:

Err just me that thinks high Street bookies are a blight then.

Agree. Good riddance.

I wish people would also stop buying lottery (tax on poor) tickets.

[stormymonday_2011]

3 hours ago, frederico said:

Err just me that thinks high Street bookies are a blight then.

Bookies and pubs used to enjoy a symbiotic relationship. Because UK licensing laws meant most pubs shut for a period in the afternoon the bookies provided a haven where layabouts like myself could hang about while waiting for the bars to reopen. In the modern world the combination of all day opening and the disappearance of thousands of pubs has severed that relationship. Moreover, the modern bookies with the gaming machines, phoney computer generated racing etc lack the seedy old world charm of their predecessors where you could chat to the bloke writing up the prices on the board while listening to the Extel commentary of the 2.30 from Newmarket

[John51]

9 hours ago, Bear Hug said:

Agree. Good riddance.

I wish people would also stop buying lottery (tax on poor) tickets.

Lottery tickets are not a tax on the poor, they're a tax on the daft.

[200p]

I didn't know London had 1000 bookmakers.

Like coffee shops, there's an over supply!

[200p]

Cor, there's one on every street corner in London.

We have the Capital of Speculation!

 

---

 

Do most people honesty think over the long term they can beat the bookie?

Edited March 27, 2017 by 200p

[19 year mortgage 8itch]

23 minutes ago, 200p said:

Cor, there's one on every street corner in London.

We have the Capital of Speculation!

 

---

 

Do most people honesty think over the long term they can beat the bookie?

Why not? I'm never been a gambler but over the past year I'm up thousands from matched betting along with thousands of other people. On a typical week I'm probably turning over a grand in online bets. It's a no/very low risk strategy with numerous providers offering a low cost subscription service and can be started with as little as £50 (although a bigger initial float would massively speed up your gains).

 

With your penchant for online income streams I'm surprised you're not all over it like a rash.

[200p]

I put in there, the word "most" people. I think most people, having peering into the window aren't using a system of arbing.

 

Edited March 27, 2017 by 200p

[19 year mortgage 8itch]

24 minutes ago, fru-gal said:

Just use Betfair innit .

Other exchanges are available!

[spyguy]

14 hours ago, 999house said:

I used to work for a bookies and the FOBTs brought in 200m a week in bets. Fact

You must have a lot of drug dealers aroun you then.

FOBT are only used by:

1) Hopeless gambling addicts. Mot will be bust in a few months.

2) Drug dealers laundering their cash, willingly taking a ~20% cut on the cost laundering.

[knock out johnny]

4 minutes ago, spyguy said:

 

2) Drug dealers laundering their cash, willingly taking a ~20% cut on the cost laundering.

I don;'t understand . How is putting ill-gotten cash into a fruitmachine and taking a 20% hit laundering money?

Edited March 27, 2017 by knock out johnny

[spyguy]

Just now, knock out johnny said:

I don;'t understand this. How is putting ill-gotten cash into a fruitmachine and taking a 20% hit giving laundered money

When Plod comes aknocking and ask where that 10k of cash, stuffed in a teapot, came from you show him a betting slip.

Google:

fobt laundering money

 

 

[NuBrit]

Bookies, casino's, all these gambling activities should be taxed out of existence. They provide no economic purpose or social utility. They are merely a means for desperate addicts to transfer their meagre wealth to rich shareholders. The FOBT's seem to be the worst of the lot too. A relation of mine who works in a bookies tells me they get zombies in every pay day/dole day who shovel whatever pittance they have for the week into these machines. How much damage is being done to people through depression, suicide, alcoholism, broken marriages, neglected children, etc that is brought on by people losing their money?