Fixed odds betting terminal
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A fixed odds betting terminal (FOBT) is an electromechanical device normally found in betting shops in the United Kingdom that allows players to bet on the outcome of various games and events with fixed odds. They were introduced to UK shops in 2001.[1]
The most commonly played game is roulette. The minimum amount wagered per spin is £1. The maximum bet cannot exceed a payout of £500 (i.e. putting £20 on a single number on roulette). The largest single payout cannot exceed £500.[2] Token coins can be of value as low as five pence in some UK licensed betting offices (LBOs).[citation needed]
Other games include bingo, simulated horseracing and greyhound racing, and a range of slot machine games.
Like all casino games, the "house" (i.e. the casino) has a built-in advantage, with current margins on roulette games being theoretically between 2.5% and 5%.
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[edit] Legislation
[edit] United Kingdom
Under current UK legislation, these machines are allowed to offer content classed as Category B2, Category B3 as well as Category C content. The main article tabulates the legal minima and maxima for stakes and payouts.
Shops are allowed up to four terminals, although this number also includes traditional slot machines. Most shops favour the new FOBTs over the traditional slot machines.
[edit] Ireland
A betting review in the Republic of Ireland has ruled that the machines should not be introduced in Irish betting shops but will be allowed in casinos.[3]
[edit] References
- ^ Evans, Richard (4 April 2005). "Betting shop gaming machines cause concern". Daily Telegraph. http://www.telegraph.co.uk/sport/horseracing/2356152/Betting-shop-gaming-machines-cause-concern.html. Retrieved 19 September 2009.
- ^ Bowers, Simon (9 May 2005). "Roulette machines blamed for rise in gambling addiction". The Guardian. http://www.guardian.co.uk/business/2005/may/09/gambling.uknews. Retrieved 9 November 2009.
- ^ "Gambling committee chief opposes betting machines". The Irish Times. 10 October 2008. http://www.irishtimes.com/newspaper/ireland/2008/1021/1224454425896.html. Retrieved 9 November 2009.
