Gambling firms to cough up £60m for addicts

William Hill, Ladbrokes Coral, Paddy Power Betfair, Skybet and Bet 365 on Tuesday said they would increase their voluntary levy on gambling profits from 0.1% to 1% up to 2023 - a contribution of £60m.

The five firms have also agreed to increase safer gambling messages in their adverts and review the "tone and content" of their marketing, advertising and sponsorship material.

According to industry regulator, the Gambling Commission, the sector as a whole generated a gross yield of £14.5bn in the year to September 18.

The industry has come under fire over its resistance to a government-imposed cut in stakes on fixed-odds betting terminals to £2 from £100. It mounted a strong campaign against the move, claiming it would result in shopfront closures and job losses – none of which have materialised.

There has also been criticism of how much money companies spend on advertising compared with what is spent to help gambling addicts.

Bet365 chief executive Denise Coates paid herself a record £220m base salary in the year to March 2018 before a dividend payment of £45m.