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fobt machine

An article in The Guardian argues that the age old distinction between gaming and betting has been eroded by the advent of digital gambling machines in high street bookmakers and online. Many people who enjoy or provide betting are upset that an element of skill and genuine odds based on probabilities of outcome are taken away by fixed odds machines.

 

If Lionel Messi gets injured in the warm-up, for instance, the odds about a Barcelona win will immediately start to drift. And because the odds fluctuate and come down to a matter of judgment, shrewd gamblers – and there are plenty – can make a longterm profit from their betting.

In gaming, the odds are fixed, because the chance of every possible outcome is known, and also fixed. The maths which governs the payouts and probabilities is as immutable and well-understood as the laws of planetary motion. For as long as we live in a universe where an apple falls down and not up, no gambler can win at gaming in the long run.

For 200 years in Britain, from the birth of both bookmaking and roulette in the last decade of the 18th century until the arrival of internet gambling, betting and gaming knew their place. Betting took place on racecourses and, since the early 1960s, in high-street betting shops. Gaming was restricted to casinos. Its availability, in other words, was more tightly regulated.

The internet has changed all that, and it is betting firms, both online and on the high street, that have been doing their utmost to blur the centuries-old dividing line. The “B” in FOBT stands for “betting”, for instance, but these are gaming machines, pure and simple. The FOBTs produce guaranteed profits – an average of more than £50,000 per machine per year – and never ask for a pay rise or phone in sick.