Products recently launched in high street bookmakers Paddy Power Betfair and BetFred have been pulled following a warning from the Gambling Commission and the operators could still now face regulatory action as the Commission continues to investigate.
A third bookmaker who was poised to launch a new product, which has been reported in the media, has also been warned.
This week saw the introduction of reduced maximum stakes on fixed odds betting terminals (FOBTS) from £100 to £2 and the Commission is concerned that the new products undermine the changes made.
The Commission may also investigate key senior staff at bookmakers who are responsible for bringing those products to market.
Today’s announcement follows a letter from the Commission’s Chief Executive Neil McArthur to bookmakers warning the industry against any attempts to circumvent the FOBT stake cut and remind them of their responsibilities to ensure their consumers are protected.
Richard Watson, Executive Director for Enforcement, said: “We have been absolutely clear with operators about our expectations to act responsibly following the stake cut implementation this week. We have told operators to take down new products which undermine the changes, and we will investigate any other products that are not within the spirit and intention of the new rules.’’