Category Archives: Gambling

Punters are expected to stake an incredible 40million on the outcome of Floyd Mayweather's mega-fight with Conor McGregor .

The two biggest egos in combat sport will clash in Las Vegas on August 26.

And bookmakers expect wagers to smash the previous record set when Mayweather outpointed Manny Pacquiao two years ago.

A spokesman for Ladbrokes said: "The 20m we took as an industry in the buildup to the Anthony Joshua v Klitschko fight came dangerously close to smashing records.

"But we're forecasting double the amount of that figure to be staked by the time these two blockbuster names come to blows."

Mayweather is the long odds-on favourite at 1/12 with McGregor priced at 6/1.

And another bookmaker has already seen 135,000 staked since the fight was officially announced last night.

A Betfair spokesperson said: "Mayweather is widely considered the best boxer of his generation, while McGregor is the UFCs biggest star, so its no surprise this could be one of the richest fights in history.

"And judging by the fact weve seen more than 100k bet on the fight in just 12 hours, we expect this to become the biggest boxing event of all time on Betfair Exchange."

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Floyd Mayweather vs Conor McGregor expected to smash gambling records as punters prepare to stake 40MILLION - Mirror.co.uk

Daily fantasy sports is like gambling.

Thats the conclusion one will come to after reviewing Rutgers Center For Gambling Studies recent report:The Prevalence of Online and LandBased Gambling in New Jersey, Nower, L., Volberg, R.A. & Caler, K.R. (2017).

Of course, whether DFS sites like DraftKings and FanDuel are empirically or legally a form of gambling is a conversation for courts and state legislatures.

Whether or not DFS is gambling is beyond the scope of this report, the researchers note. However, the report clearly shows DFS players exhibit many of the same traits as traditional gamblers (and have a high crossover rate).

Thats not the best news for the DFS industry.

As it tries to gain approval in statehouses across the country, DFS has waged a war against the word gambling. The industry likes to refer to itself as a skill-based game that has little in common with traditional forms of gambling. DFS proponents use analogies like chess, the stock market, spelling bees, and bowling leagues, and it sells itself as good, clean fun.

The Rutgers study indicates it has some things in common with traditional forms of gambling.

Before delving into the prevalence reports DFS findings, I want to offer up some thoughts on peer-to-peer skill-based games with wagering components.

In a previous column, I asked if poker players and other advantage gamblers werent skewing problem gambling data.

But theres a second piece to this puzzle. Are so-called skill-based games a driver of problem gambling behavior, and/or are they magnets for problem gamblers?

Poker, DFS and other games are sold as skillful. Were led to believe that if players are smart and diligent enough they will have no problem beating the game.

The problem is these games are played against other players, so skill is only relative to that of others. This isnt a case of practicing Mike Tysons Punchout hour after hour every day and finding the right patterns and strategies to defeat each boxer. In DFS and poker, the opponents are also capable of improving.

Because of this, and because of the rake/fees taken by the house, there can only be so many winners. If blackjack were beatable with perfect strategy (suppose blackjack paid 2-1), then every skilled player would be a winner; they could all adopt the same strategies and beat the house.

Poker and DFS may be skill games, but for 95 percent of players, their skill wont translate to wins.

But because of the way the games are sold and because of variance, players can convince themselves they are skilled enough to win. Maybe right now theyre just unlucky, or theyre close to being skilled enough to win and just have to work harder, they can rationalize to themselves.

Its not hard to see how this mindset could lead to addictive behavior.

With that out of the way, lets move on to the studys findings.

The researchers explained the reasoning behind their inclusion of DFS (and day-trading) thusly:

A majority of activities listed in this study are historically classified and widely accepted as gambling, because they involve spending money on activities with an uncertain outcome and the possibility of winning or losing that can result in harm. However, other activities elude precise classification and are largely context and jurisdictiondependent.

Stock trading, for example, is traditionally viewed as a skillbased investment, focused on compounding earnings over time. The advent of daytrading, however, shifted the focus from investment to the exciting and immediate activity of taking greater, short term financial risks on options and futures for the potential of larger payouts but also larger losses.

Similarly, traditional fantasy sports games were originally seasonlong competitions based on the actual performance of players and were exempted from the Unlawful Internet Gambling Enforcement Act of (2006) (UIGEA) because they relied in large measure on the knowledge and skill of the players.

Given the lack of consensus over where high risk stocks and daily fantasy sports fall in the gambling spectrum, they are included in this study in a separate section.

According to the Rutgers study, A total of 336 respondents (out of 1,500) endorsed participation in daily fantasy sports (DFS) in the past year.

In all but seven instances, DFS players also took part in traditional gambling. That means 98 percent of DFS players in the survey also gambled on gaming machines, bingo, live casino table games, other games of skill, sports and horses.

According to the report, 84 percent of DFS players gambled on non-DFS games once a week or more, placing them in the high-frequency group. Ninety-five percent of DFS players landed in the high-frequency/high-risk for problem gambling group.

With a 336-person sample, further research will be needed. But on the surface it appears DFS players share much with traditional gamblers. And when it comes to addiction in general, theyre far more likely to succumb than traditional gamblers, as seen in this chart.

One of the stranger findings is the high level of mental health disorders among the DFS group.

The report states, Notably, DFS players also reported higher levels of substance use, behavioral problems and mental health issues than other nonDFS gamblers.

half the sample used tobacco, fourfifths used alcohol, and onethird reported binge drinking and using illicit drugs. DFS players were more than twice as likely as other gamblers to endorse problems with overeating, nearly four times more likely to have problems with sex and pornography, and five times more likely to exercise excessively. More than onefourth of DFS players reported serious mental health issues in the past 30 days, twice as many as other gamblers.

The report also states DFS players were 13 times more likely to report suicidal ideation than traditional gamblers. They are also nine times more likely to have attempted suicide compared to other gamblers.

According to the study, these findings suggest that DFS play is highly correlated with problem and disordered gambling and a host of other mental health problems. Policymakers should consider that data, the study suggests.

Policy decisions regarding DFS regulation should anticipate a very high prevalence of gambling problems in this group and the negative consequences that typically accompany those problems such as employment, legal, relationship, financial, health and mental health problems. It is important to ensure there are prevention, education, and treatment resources developed for and available to this population.

The only thing the report proves about DFS is that more research is needed.

If DFS players are just as, or more, likely to fall victim to the mental disorders that plague problem gamblers, then similar responsible gaming procedures should be put in place.

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Is Daily Fantasy Sports A Form Of Gambling? New Rutgers Study Seems To Imply It Is - Legal Sports Report

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As the NFL tries to reconcile its inherently conflicting and inconsistent positions on gambling (or stubbornly cling to them until the time comes to abandon them and pretend they never existed), the league may from time to time have to face questions about the perception that the right hand and left hand are flailing around independently.

According to Brent Schrotenboer of USA Today, a non-profit charity that sued the NFL last year regarding the forced relocation of a bowling event due to the leagues gambling policy wants to question Commissioner Roger Goodell under oath.

Mr. Goodell alone is charged with interpretation and enforcement of the gambling policy that served as the basis for relocating the charity event, the charity known as Strikes for Kids alleged in paperwork filed last week, via Schrotenboer.

The league undoubtedly has fought and will continue to fight the request zealously. Large businesses routinely try to shield the CEO from having to testify under oath, for a variety of reasons. For example, people who are accustomed to being the top authority in an organization dont like to submit to anyone elses authority. Also, high-level executives often make for very bad witnesses, attempting to impose their will and/or to engage in impromptu swordplay with someone who has crossed blades with every size, shape, and manner of combatant.

In this case, tough questions about the leagues refusal to allow players to appear at events held on property owned by a casino takes on added significance, given the leagues fairly recently decision to allow the Raiders to move to Las Vegas.

Strikes for Kids has accused the league of fraud, arguing that an NFL lawyer misled the group and caused the charity to lose revenue. The group also claimed that the league made a $5,000 contribution to the event as hush money.

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Non-profit charity seeks testimony from Roger Goodell on NFL's gambling policy - NBCSports.com

Australian company Crown Resorts said Tuesday that a group of its employees have been charged with offenses related to the promotion of gambling.

The Crown staff members and their families have faced months of uncertainty after Chinese authorities detained the employees in October. Among them were senior managers, including Jason O'Connor, executive vice president of Crown's VIP International unit.

O'Connor's business was focused on high-rolling gamblers, a sensitive area in China at a time when President Xi Jinping's sweeping corruption clampdown has targeted gambling as a potential way for corrupt officials to launder money.

The detentions of the Crown employees sent a chill through the gambling industry in Asia. The Australian company has reduced its links to China in the aftermath.

Related: Casino stock plummets after China detains staffers

Nineteen people charged in the case are due to appear before Baoshan District Court in Shanghai on June 26, according to a court notice.

Crown declined to comment further, citing court restrictions. The Australian government has said it's providing consular assistance to three detained Australians.

Gambling is illegal in China, except in the territory of Macau. Foreign casinos aren't permitted to promote gambling directly in the country, but they are allowed to promote their destinations more broadly.

Related: Japan opens door to potential $30 billion casino industry

Chinese gamblers were a big business for Crown.

More than a third of revenue generated by the company's Australian resorts for the year ended June 2016 came from international visitors, most of them from mainland China, according to Crown's latest annual report.

But the company says sales and profit sank in the second half of last year, dragged down by a 45% plunge in revenue from high-rolling gamblers.

Since the detentions of its staff in October, Crown has also pared back its exposure to China by offloading its stake in a Macau casino operator.

-- Nanlin Fang contributed to this report.

CNNMoney (Hong Kong) First published June 13, 2017: 6:19 AM ET

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China charges Australian casino staff with promoting gambling - CNNMoney

5 places searched in Macon gambling investigation

Kasandra Ortiz, WMAZ 6:57 PM. EDT June 13, 2017

Three arrests have been made, civil racketeering complaints filed, and five locations searched in a Georgia Bureau of Investigation gambling investigation.

The Georgia Bureau of Investigation executed five search warrants in Bibb County for the violation of Georgia's gambling laws, racketeering, money laundering and related offenses, said District Attorney David Cooke at a press conference Tuesday.

The Georgia Bureau of Investigation searched three businesses, an annex and a Macon home where they suspected illegal gambling.

The businesses raided were the Shell Food Mart on Riverside Drive in north Macon, Poplar Mart on Poplar Street downtown and Lizella Supermarket on Holley Road in West Bibb.

Cooke says all the locations used coin operated video machines, but instead of giving winning customers store merchandise or lottery tickets -- they were getting cash payouts.

Cooke says the Shell Food Mart on Riverside Drive and the Lizella Supermarket had millions of dollars coming through.

"Customers gambled approximately $25,000,000 or about $700,000 per month over a 3-year period from April 2014 to May 2017. These businesses failed to pay in excess of $1,000,000 to the state and local governments, said Cooke.

He says at Poplar Mart, on Poplar Street, customers gambled over $53,000 a month over a two-year period. The winnings totaled around $900,000. He said the store did not pay $100,000 in taxes and also filed fraudulent returns to the state.

Cooke says he has filed civil racketeering complaints against people connected with the gambling.

According to the Bibb County Jails inmate website Soon Cha, Hung Park and Myoung Park have all been arrested.

Cha was charged with racketeering, two counts of commercial gambling and evading currency transaction report requirements.

Hun Park and Myoung Park were charged with commercial gambling.

"We're going to vigorously enforce the law to the best of our ability. We're not going to be deterred and we're going to do everything we can to keep this community safe, said Cooke.

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Three arrested in Macon illegal gambling raids - 13WMAZ

For the last 25 years Americans have been breaking the law; spending hundreds of billions of dollars gambling on sports illegally. The Professional and Amateur Sports Protection Act (PASPA), which was intended to protect the integrity of our nations sporting events and consumers from the evils of gambling, has clearly failed. Instead, it created an enormous black market that has left consumers vulnerable to crime and stripped the states of their right to regulate and tax this type of commerce within their own borders. This week, the American Gaming Association (AGA) launched a new coalition with one mission: end the unconstitutional ban on legal sports betting.

A lot has changed since Congress enacted PASPA in 1992. Almost every state now has some form of legalized gambling, weve elected a former casino owner as our 45th President, and nearly 6 in 10 Americans now favor lifting the federal prohibition on sports gambling. Gambling isnt the boogey man it once was and AGAs American Sports Betting Coalition hopes that political and social environment is ripe for change.

Members of the new coalition include former heads of the FBI, Immigration and Customs Enforcement, state attorneys general, police commissioners, sheriffs, and state lawmakers. For them, this is a matter of federalismfreeing the states to enact the best legislation for their constituentsand consumer protection.

The rampant illegal sports betting that currently exists continues to fuel other criminal activities and provides no consumer protections.States should be able to determine for themselves how to address the issue, said Brad Schimel, attorney general ofWisconsin.

Not only would repealing PASPA rightfully return the power to regulate intrastate gambling to state legislatures, generate much needed tax revenue, and help law enforcement go after truly criminal outfits, but it would also protect the integrity of sports games, according to the coalition.

Big Governments 1992 sports betting prohibition has failed to protect sports, fans and communities, said Geoff Freeman, president and CEO of the American Gaming Association. Regulated sports betting is what fans want and sports integrity demands.

An op-ed authored by Freeman, Ed Davis (the former Commissioner of the Boston Police Department) and Tim Murphy (former FBI Deputy Director), argues that legalizing sports gambling is actually the best way to protect sports integrity. That is because modern data analysis technology can track betting patterns and identify signs of corruption. In Europe, where sports gambling has long been legal, the leagues and authorities work with the gambling industry, relying on bookies as their early warning system for games that might be rigged. [A]n open, transparent, regulated betting market takes sports betting out of the shadows, making it easier for law enforcement to protect the public and choke off money flowing into criminal organizations, they wrote.

The loudest opposition to legalized sports betting has come from the sports leagues like the National Collegiate Athletics Association (NCAA) and the National Football League (NFL). However, many within the leagues have changed their tune in recent years. For many years, NBA Commissioner Adam Silver has called for sports betting legalization. MLB Commissioner Rob Manfred recently admitted his league is revisiting their stance on sports gambling. Even the NFL seems to be softening its position, recently approving the Oakland Raiders move to Las Vegas, Nevadathe only state that allows sports betting. When asked if the league was worried about a major football team being in such close proximity to sports betting, NFL Commissioner Roger Goodell noted they werent concerned because of the regulatory environment there, which actually could be beneficial in this case.

It seems the leagues and even players unions finally recognize that protecting the reputation of their industry is their responsibilitynot Congresss and not the American taxpayers. The launch of this new coalition can capitalize on the unprecedented support and, perhaps, finally convince Congress to repeal this counterproductive, unfair, and unconstitutional prohibition that should have never been enacted in the first place.

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Law Enforcement Joins Coalition to End Sports Gambling Ban - Competitive Enterprise Institute (blog)

Nine people have been arrested by B.C.s anti-gang task force after a year-long investigation involving illegal gambling houses and millions of dollars in laundered money in Metro Vancouver.

In May 2016, an integrated unit within the Combined Forces Special Enforcement Unit started a probe intoa criminal organization allegedly operating illegal gambling houses, loan sharking, carrying out money laundering for drug traffickers, kidnappings, extortions and other violent acts.

During the investigation, it was apparent there were multiple roles filled by different people (who)enabled or facilitated the organization in laundering large amounts of money through casinos, said CFSEU Assistant Commissioner Kevin Hackett at a news conference Tuesday at RCMP E Division headquarters in Surrey.

Hackett pegged the amount of money laundered into the millions. He declined to name any of the casinos, but said they are all in the Lower Mainland.

The investigation by the joint illegal gambling investigation team also uncovered that the Lower Mainland-based organized crime group had operations that extended to China and other countries, he said.

A search of six homes led to the seizure of cash, drug paraphernalia, cellphones, computers, and a number of luxury vehicles, including one that had a sophisticated hidden compartment. Some of the items seized stacks of bills in clear plastic bags, scales and bill-counters were on display at the news conference.

The suspects have not been charged but face possible charges of money laundering, drug trafficking and proceeds of crime. They are not in custody. None of them were employed by the casinos.

Peter Goudron, executive director of the B.C. Gaming Industry Association, said it is concerned by the CFSEUs assertion thatlarge amounts of money were laundered through casinos.

Given the robust (anti-money laundering) procedures in place at B.C. casinos we are unaware how this could have taken place and expect to learn more about their allegations in the near future, he said in a statement.

The association said B.C. casinos are required to report any cash buy-in over $10,000 and all suspicious transactions to the B.C. Lottery Corporation and Fintrac, Canadas money-laundering watchdog.

The task force also executed a raid Monday night at an illegal gambling house in Richmond believed to be associated with the group, said Hackett. About three or four such venues were uncovered during the investigation. Some of them were located in homes.

B.C.s anti-gang task force shows off some of the money they seized at the RCMP E Division headquarters in Surrey on Tuesday. Jason Payne / PNG

Illegal gambling, money laundering and loan sharking are lucrative sources of income for organized crime groups, said Hackett, warning people who use loan sharks or money launderers that the money they receive from these underground sources are often from illegal activity and fund criminals and their operations.

The creation of the joint illegal gambling investigation team was announced in April 2016 by then-Finance Minister Michael de Jong. Its mandate was to crack down on illegal gambling and money laundering in casinos and illegal gambling houses by high-level crime groups.

The unit includes investigators from the Combined Forces Special Enforcement Unit of B.C. and investigators from the provincial gaming policy and enforcement branch.Seventy per cent of its funding come from the B.C. Lottery Corp.

At the height of this operation, about 200 people were working on the case.

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Anti-gang cops arrest nine following year-long probe into illegal gambling - Vancouver Sun

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Racketeering lawsuits alleging illegal gambling filed against midstate stores The Telegraph Bibb County prosecutors filed racketeering lawsuits Tuesday against three convenience stores and their operators, alleging illegal gambling violations and that the stores made false reports to a state agency. One suit names Soon H. Cha, Cha Super ...

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Racketeering lawsuits alleging illegal gambling filed against midstate stores - The Telegraph

USA TODAY Sports' Lindsay H. Jones looks at the division's big offseason changes. USA TODAY Sports

NFL policy prohibits team owners from having a stake in casinos, but two casino owners are on the governing board of the landlord that will own the Las Vegas stadium where the Raiders are scheduled to play in 2020.(Photo: Kirby Lee, USA TODAY Sports)

Now more than ever before, the NFLs public position on gambling has become quite an artful dance.

On one side of the ballroom, the league still opposes sports gambling and is against promoting casinos. The NFL even continues to fight a lawsuit that seeks payback from the league after it banned Tony Romo and other players from an event at a Las Vegas casino property in 2015.

On the other side of the room, the league increasingly has flirted with the gambling industry in recent years, including allowing advertising from casinos. In Arizona, a casino company called Gila River Gaming Enterprises confirmed to USA TODAY Sports this monththat it's been havingdiscussions with the Arizona Cardinals about buying naming rights to their stadium.

This pertains to thestadiumnaming rights, thecasino company said before recently noting it has entered anon-disclosure agreement with the team about these discussions. This is aresult of continued communications with the Arizona Cardinals through our strong existing relationship.

NFL fighting youth charity over gambling policy

The league's current gambling policystill prohibitsthe sale of primary stadium or field naming rights to gambling-related establishments. So why is this even a possibility in Arizona?The bigger question many have asked recently is why the league maintains this conflicted policy, especially after approving the relocation of the Oakland Raiders to the gambling capital of Las Vegas.

The simple answer is power and money to control players and personnel for the sake of appearances while making exceptions for the sake of revenue. The policy iseven atissue in federal court, where the NFL is fighting a charity organizationthat said the league forced it to move a youth bowling event with NFL players in 2015. The charitysaid the NFL made it relocate to a much smallerbowling alley in Las Vegasbecause thebigger bowling alley was part of a casino resort.

There is no reason for the NFL to alter its gambling policy if the only adverse ramifications are accusations of hypocrisy and negative media stories, said Daniel Wallach, a gaming and sports law attorney in Florida.

The only reason for the league to overhaul it, he said,would be for compelling legal or business reasons, which some predict could come within the next five years.

In the meantime, the Arizona discussions appear to be one of the most expensive examples yet of a rising NFL conflict a league policy rooted in old, negative perceptions against gambling vs. the demand for more lucrative ties between NFL teams and gambling businesses.

Stadium naming rights are lucrative sources of revenue for NFL teams. The Cardinals last stadium naming rights deal, with the University of Phoenix, paid the teaman average of $7.7 million per year.

But there are restrictions. No NFL stadium is named after a casino company, though Hard Rock Stadium in Miami Gardens is named after company that includes casinos in its portfolio.

Sale of naming rights for stadium lounges and other sections of the stadium is permitted by the NFL for certain casinos. For example, in 2015, the Detroit Lions unveiled the MGM Grand Detroit Tunnel Club lounge at Ford Field. But the policy specifically excludes gambling-relatednaming rights for the "field or primary building name, according to the league policy.

The NFL referred questions about the Cardinals stadium naming rights to the team, which declined comment.

Its possible the policy could change, like it did when the league allowed teams to accept limited casino advertising in 2012. Its also possible the team could try to thread the needle by selling naming rights to the casino company but not putting the casino companys brand in the stadium name.

Perhaps the stadium could be called "Gila River Stadium, just like the Gila River Arena next door, home of the Arizona Coyotes of the NHL, a league that has a more permissive stance about sponsorships with casino companies.

Gila River Gaming Enterprises is part of the Gila River Indian Community. The NFLs gambling policy says its permissible to have general advertising in the sovereign name of a Native American Nation, regardless of whether that Native American Nation operates or holds interests in a casino.

The problem is perception. Such nuanced exceptions make the NFLs policy increasingly easy for critics to lampoon and raise questions about the point of such contortions as gambling becomes more publicly accepted.

In November 2012, NFL commissioner Roger Goodell testified in a legal proceeding that gambling was No. 1 on his list of threats to the integrity of pro football in the U.S. In March, he also said the league doesnt envision changing its policies just because the Raiders are moving to Las Vegas.

Even social gambling among co-workers can lead to discord, violence and a loss of team cohesion, the NFL policy states.

Gila River Gaming Enterprises is behind the name of the NHL arena adjacent to the Arizona Cardinals' stadium. Will the stadium adopt the name of a gaming operation too?(Photo: Christian Petersen, Getty Images)

The leagues steadfast resistance to sports gambling stems from its fear that bettors might scandalize the NFL by bribing players or coaches to fix game scores to their benefit. Critics of this stance long have pointed out that legalized, regulated sports betting will reduce this risk, not add to it.

Yet the leagues opposition to sports gambling still doesnt seem to explain the leagues position on being against certain types of casino associations, but not others. Or why the NFL is against a team owner even partly owning a casino but not against two casino executives serving on the governing board of the landlord that will own the Las Vegas stadium where the Raiders are scheduled to move in 2020.

Its ban on certain types of gambling relationships stem from old public perceptions that associated gambling with organized crime and viewed gambling in very negative terms, according to a 1999 memo to NFL teams from then-NFL Commissioner Paul Tagliabue.

But as legalized gambling became more publicly accepted, parts of the leagues policy evolved, too, in ways that make it seem inconsistent and conflicted.

On the one hand, team owners have been allowed to hold stakes in daily fantasy sports companies, which are illegal in some states and cant operate in Nevada without gambling licenses.On the other, the NFL confirmed lastweek it is still reviewing whether to discipline players for appearing at an arm-wrestling event at a Las Vegas casino in April.

The NFLs opposition to gambling has always sort of been 'until they can make money on it,' said John Holden, an attorney and visiting scholar at Florida State who has studied sports league gambling policies. Its not totally clear where the line is, or even if the line is very firm.

A company affiliated with former Dallas Cowboys quarterback Tony Romo calls the NFL's gambling policy "disingenous."(Photo: LM Otero, AP)

Wallach notes the league is enormously successful and therefore not inclined to fix anything until feels it must.

It could be a court decision that causes the NFL to change, Wallach said. It could be a further decline in television ratings or a diminution of (media) rights deals.

The U.S. Supreme Court soon is expected to decide whether to hear the state of New Jerseys challenge to the federal ban on state-sponsored sports gambling, which is largely illegal outside of Nevada. The NFL is opposing New Jerseys challenge, but if the law changed and more states wantedto legalize sports gambling, the league could change its tune for acceptable regulations and financial considerations.

Meanwhile, a company affiliated with Romo, the former NFL quarterback, is still fighting the NFL in court over its gambling policy. The company sued the league in 2015, saying the league used its disingenuous policy to effectively shut down the companys fantasy football event in Las Vegas. The league prohibited players from appearing at the event because itspolicy forbids promotional appearances associated with casinos.

After a judge sided with the NFL last year and threw the case out, the company appealed, and the case is still pending in Texas court.

The reality is that when the NFL gets a piece of the pie, the NFL flagrantly and systematically violates its own supposed policy against casinos and gambling, the lawsuit states. Countless examples show the NFLs true attitude toward betting.

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NFL's gambling policy appears consistently inconsistent - USA Today - USA TODAY

The UK's hung Parliament is more likely to mean an aggressive cut to the size of stakes allowed on gambling machines - a move that could hit revenues across the industry, experts have said.

Punters can bet up to 100 a time on fixed odds betting terminals, known as FOBTs, but MPs had been considering whether to reduce this level as part of a wider triennial review ofthe gambling industry by government.

The terminals havebeen dubbed the "crack cocaine"of the gambling industryand both Labour and the Liberal Democrats stated in their manifestos an intention to slash the size ofbet a gambler could make at one time on a FOBT to 2.

This level could see some of the UK's biggest bookmakers lose hundreds of millions in pounds of revenue on the changes, according to analysis from Barclays.

The Conservative Party did not state a preference for limiting the size of stakes on FOBTs, but the Democratic Unionist Party, upon which it must now depend for votes, has previously indicated its opposition to gambling terminals.

Analysts at Barclays said the make-up of the new Parliament meant the "probability of a maximum stakes being cut to 2 has increased", something likely to worry investors.

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Gambling industry bets hung parliament will lead to tougher action ... - Telegraph.co.uk