Bookmakers Paddy Power and Betfred have pulled new retail products following a warning from the Gambling Commission and both operators could yet face regulatory action.
A third bookmaker, also poised to launch a new product as reported in the media, has also been warned.
This week saw the introduction of a reduction to £2 from £100 of maximum stakes on FOBTs, with the regulator concerned that the new products “undermine” the changes made.
The Commission said it may also investigate key senior staff at bookmakers responsible for bringing those products to market.
The 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 reminding 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.’’
