Football bets more profitable than gambling machines
football betsIn the coming weeks when the government will completes its review of gambling sector , a crackdown on the (FOBTs) also known as fixed odds betting terminals looks to be coming. Dubbed the “crack cocaine of gambling” in games like roulette and poker for allowing the punters to bet stakes up to £100 , even the Tessa Jowell, former UK’s culture secretary has joined the chorus demanding curbs.
Having proposals to reduce the max stakes to £2 & to restrict number of terminals, the industry is in suspense. One of its defense is that FOBTs have gross margin between 2% & 3%, which tells that 97% and 98% of stakes will end up being returned to the punters in the winnings. This even sounds reasonable until we reflect that high maximum stakes & speed at which people can bet means they can still run up the large debts in very short period of time.
Nonetheless, FOBTs are definitely serving as something of lightning rod for the other types of gambling that is unfair to punters but is poorly understood. Here i am talking about the bets where people bet not just on outcome but also on the other facets such as scoreline, that scores first & combinations of outcomes. All of these betting offers have just exploded in the recent years and you are going to see them all over the windows of the high street bookmakers.