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What is Fixed Odds Betting Terminals mean?
A fixed odds betting terminal (FOBT, sometimes pronounced "fob-tee") is a type of electronic slot machine normally found in betting shops in the United Kingdom and introduced in 1999. The terminals allow players to bet on the outcome of various games and events which have fixed odds, with the theoretical percentage return to player (RTP) displayed on the machine by law. Like all casino games, the "house" (i.e. the betting shop) has a built-in advantage. Typically, slot machine FOBTs have an RTP of 90% to 94% depending on the chosen stake, and standard roulette FOBTs have a long-term average RTP of 97%.
The most commonly played game is roulette. The minimum amount wagered per spin is £1 and the maximum is £100. The largest single payout cannot exceed £500 and this can limit the wager size e.g. the maximum wager on a single number on roulette at odds of 35:1 is £14. Token coins can be of value as low as five pence in some UK licensed betting offices (LBOs). Other games include bingo, simulated horseracing and greyhound racing, and a range of slot machine games.
In May 2018, the national government agreed with a reform campaign to cut the maximum bet for some games from £100 to £2. The terminals allegedly lead some players into problem gambling. The Department for Digital, Culture, Media and Sport (DCMS) announced the policy change. The change was due to come into effect in October 2018, but the government bowed to pressure, and delayed it until April 2019.
referencePosted on 01 May 2022, this text provides information on Miscellaneous in Computing related to Computing. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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