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UK Bookmakers upset - Thousands of jobs at risk

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The Guardian reported in an article - Several of the largest UK bookmakers risk closing thousands of their gaming stores on the street, risking thousands of staff. A quarter of betting shops on UK high streets have been slated for closure, putting 12,000 jobs at risk. William Hill said on Thursday they could close 700 high-street shops, including putting 4,500 jobs under threat. GVC - The owner of Ladbrokes/Coral, has earlier said 900 shops could close, threatening 5,000 employees. Betfred has predicted up to 500 closures, which would reduce its staff by 2,500.

Bookmakers claim the main reason seems that The Maximum stakes on fixed-odds betting machines were slashed from £100 to £2. This was the reason for a government decision during April, 2019, who linked the betting machines to gambling addiction. Bookmakers aim to cut costs to cover the reduction.