Andrew Burnham, UK Cultural Secretary has just approved a resolution to loosen slot limits. In accordance with the new guidelines, slot machines in the pubs, clubs and land bookmakers throughout the country can currently accept bets of up to $1.47 and pay off a max of $102.88.
New limits are almost double the previous 74-cent wagers and 51.47-dollar payouts. Officials expect the tax revenue to grow by 20% that will be an over $40 million increase.
At the point, UK slots generate more than $14 billion in total revenue with about $12 billion return in prizes. This increase is the second in years when regulators have made a decision to lift the imposed limits.
Though, according to the Times Online, critics have already voiced concerns that these new limits can stimulate gambling addiction pending the present recession. Anna Drew, Methodist Church spokeswoman asserted that initial losses of a gambler increase his desire of making more wagers to recoup for the losses.
Drew said “People chase their losses on slots. They put more money in to get the 5, 10 or 20 pounds back.”
According to GameCare, there are about a third of a million problem gamblers in Britain now. Drew added that they would not want this to grow.
He also pointed out that these new limits are likely to make more opportunities for problem gamblers to make a bet. They say that an increase of betting limits will make clubs and pubs augment the number of slots on their premises.
There are currently nearly 80,000 slots with an approximately 8.1 million regular gamblers all over Britain. One-third of these gamblers are 24 or younger, and the nation’s Gambling Commission reported that a majority of them are men.
Gordon Brown, Prime Minister have long been accused by religious groups of promoting greed in the United Kingdom and the new limits are regarded as evidence of fact. Brown’s supporters argue yet that the prime minister is in opposition to casino expansion, reminding of his veto of the Manchester ‘super casino’ project.
They also said Parliament considered smaller rises but not less than twice the previous limit to considerably increase tax revenue.
Brown said, it was a needful step, since “the economy isn’t moving.”
Furthermore, a Culture Department spokesman said that the strictest code of conduct for machine operators would remain in place.
The spokesman added that the main aim of the Gambling Act is to protect the underage and vulnerable people and this is their priority.