Pierre-Charles Boudot, right, riding Waldgeist gains on Frankie Dettori riding the favourite Enable in last Sunday’s Qatar Prix de l'Arc de Triomphe at Longchamp, a result that saved GVC Holdings millions Michel Euler/APBetting on horses and other sports at the local bookmaker is on the increase after the government clampdown on fixed-odds betting terminals, according to the owner of Ladbrokes and Coral. GVC Holdings, Britain’s biggest bookmaker, said that like-for-like net gaming revenues from machines had fallen by 36 per cent in the third quarter. The maximum stake that could be placed on fixed-odds betting terminals, or FOBTs, was cut from £100 to £2 in April. The overall picture across its retail estate was above expectations after a 7 per cent rise in net gaming revenues from over-the-counter bets on horses, greyhounds and football. Kenny Alexander, chief executive of GVC, said: “There’s a degree of recycling, but I think the betting shops have a much better atmosphere…

Source: The Times October 09, 2019 16:07 UTC