Betting News
William Hill on the edge of closing
The whole industry has been shocked about the recent announcement made by one of the top online bookmakers William Hill. More than 4,500 jobs are in jeopardy.
William Hill is set to close 700 of its betting shops, leaving thousands of people unemployed. Each shop is said to be paying around £30,000 a year for just live-streaming, which is the case of closing will result in up to £21 million loss to media rights holders.
The whole mess has been started by the government's cut of the maximum stake at the Fixed Odds Betting Terminals (FOBT) from £100 to £2 in tries to fight a surge of many gambling addiction cases. The whole industry has suffered a downfall since then.
William Hill seems to be not the only operator who plans to shorten its real estate. Ladbrokes & Coral once said 1,000 of their betting shops were on the edge of closure, as well as Betfred mentioning that 400 out of 500 of its locations are being considered to stop running.
Overall losses connected with betting shops closures are estimated between £40-60m.
Bovada
Copyright © 2010-2019 Bettingwell.com. Using any elements of this website is prohibited. 
Post new comment