Last year UK gamblers lost a record £13.8bn, as operators made it harder than ever for skilful customers to place a bet. Regulation is urgently needed
There is an old gambling story about the late Australian media tycoon Kerry Packer, and an irritating Texan oil magnate who tried to goad him into a high-stakes head-to-head in a casino. “I’m worth $60m,” the oil man boasted, at which point Packer is said to have taken a coin from his pocket and snapped: “Toss you for it.”
The Texan, predictably, backed out, but there is no chance that the British public will do the same; though the oilman’s fortune pales into insignificance when set against the record £13.8bn lost by the country’s gamblers in the year up to September 2016. It was a year that seemed to play out in the Twilight Zone, a time of shocks, outsiders and expecting the unexpected. But £13,800,000,000-worth of shocks?