Government Chaos Continues Outside Of Brexit With FOBT Sanctions

Pressure had been growing on chancellor Phillip Hammond to bring forward the move and he eventually caved under the pressure speeding up the process by six months.

That had led to widespread chaos within the government with sports minister Tracey Crouch resigning when the proposal was originally announced for October 2019.

The betting industry in the UK is huge, employing over 100,000 people in the country and contributing a whopping £2.8billion to the economy.

Slot machines make up a large part of that with both online and offline slots incredibly popular. Bookies often offer bonuses such as 30 free spins no deposit required keep what you win offers alongside free bets and incredibly enticing welcome bonuses.

What the maximum stake reduction will do, down to £2 from £100 is yet to be seen, although it could well see a number of bookmakers begin to struggle. Especially with increases of tax in online casinos rising 6% to 21%.

What will undoubtedly happen is an even bigger rise in online gaming. Last year alone online gaming made up £4.7billion of the £13.7billion industry and that figure is growing regularly due to an increase in tech and an ever appealing market.

Online gaming is more lifelike than ever before with punters able to bet from pennies to pounds on slot games that have affiliations with huge Hollywood blockbusters and casinos that have real live dealers which punters can communicate with in play.

That's expanded further with the introduction of Virtual reality. Online casinos are often at the forefront of technology and companies are always looking to offer as close to the same sort of experiences you'd receive in Las Vegas directly from your home.

2019 will mark a pivotal period for gaming companies as they look to adapt from a significant loss of income from the cuts.

Many bookmakers have admitted they will have to close shops, which could see an even firmer focus on online.

Forecasts are suggesting that by 2020 the global value will be at $66billion, with augmented and virtual reality expected to play major parts.

The success of live casino online has suggested there's an appetite for it and with government officials making sever changes to how games are played offline the chance to get a "real life experience" online will prove extremely tempting.

There are bound to be a number of twists and turns over the coming months as the rumble of FOBTs continue. Bookmakers themselves will certainly have plenty to say in the build up to April and it will be interesting to see how the industry looks to stabilise in the final three quarters of the year.