Andy Burnham, the culture Secretary, has today revealed a substantial increase in the maximum stakes and maximum Jackpots available in the UK slot sector. Prizes will be doubled from £35 to £75 and the maximum stake is now one pound as opposed to 50p prior to the move. It is estimated that this move will generate an additional 20% of revenue for the sector and increase the government's VAT return from the industry by £27 million a year.
There have been rumours of a change for some time and while a figure of 60p had been suggested informally, information from the sector indicated that this would make very little difference to the industry. As a consequence the government has taken a more serious look at the issue and a doubling of maximum stakes and profits would appear to be more than enough to get the sector going again.
The government's gambling strategy has been held to ridicule over the last few years with a number of projects announced only to be changed or cancelled outright. Today's move is welcomed by slots operators and will see the UK pub sector in particular receive a much-needed shot in the arm.
