Monday, 20 May 2013

The crack cocaine of gambling?

The current gambling bogeyman is the ‘fixed-odds betting terminal' (FOBT), a device that offers virtual casino games in licensed betting shops. These machines are routinely dubbed ‘the crack cocaine of gambling’ and it is claimed that players can lose £18,000 in an hour. They are blamed for a rise in problem gambling and it is said that Britons spend £42 billion on the machines every year. It is also claimed that betting shops have proliferated as they scramble to cash in on the popularity of the machines.

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Lifestyle economics
Read the full blog post here

Source: http://www.iea.org.uk/blog/the-crack-cocaine-of-gambling

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