High street and online gambling giant William Hill has reported reduced revenue from their in-store gambling machines. Comparing the most recent quarter to the same quarter in 2018, there has been a 39% drop in revenue from these machines.
William Hill reported that they have made up the difference with a 13% increase in sportsbook revenue in their shops. This means that players are still spending their money, just not on the same activities they were before.
This reported reduction in revenue follows the new £2 limit enforced by the UK government on fixed odds betting terminals in 2018. These changes reduced the maximum bet on slots, roulette and other games from £100 to only £2. This new stake limit not only reduces jackpots and potential winnings, but also seems to have had a negative affect on the industries profits.
This year, a group of UK MPs have formed The Gambling Related Harm All-Party Parliamentary Group (GRH APPG) and released an interim report suggesting that this £2 limit should be enforced on online gambling too.
If online gambling sites adopt this proposed £2 stake limit, there’s a good chance we could see the same lower revenue figures alongside reduced maximum winnings for players.