Figures assembled by the Gambling Commission show either what a great or terrible job it's doing, with British gamblers spending, losing or giving away an enormous total of £13.8bn in one year. No wonder everyone's so poor these days that the knees are all ripped and worn away on their trousers.
The Gambling Commission data [PDF] covers the year to September 2016, and includes a £1.8bn chunk that was frittered away by sad men bent over digital fixed-odds betting terminals, the new way bookmakers try to make thinking you might win but ultimately losing all your money more appealing to young punters.
The FOBTs are controversial due the rate at which users can hemorrhage away their cash. Currently, players are able to gamble then inevitably lose at a staggering rate of £100 every 20 seconds, a rate of loss that has debt campaigners and politicians across the board asking for the rules to be changed. And the Department for Culture, Media and Sport is currently reviewing the gambling world, with the machines' maximum stakes expected to be slashed by as much as 90 per cent when its conclusions are published.
Image credit: Stop the FOBTs
More Money Posts:
Lack of interest may have been an issue.
No more putting up grandad in return for a free TV license.
But most banks have yet to sign up for it.
Another day, another cryptocurrency clusterfuck.