William Hill calls on U.K. government to reconsider FOBTs control policy

In the letter seen by City A.M, the betting firm's chairman Roger Devlin called the change "unnecessary and lacking in evidence," adding that the policy would be "catastrophic" for the betting industry if it was brought in.

William Hill argues that the proposed plan to reduce the maximum stake of FOBTs from £100 (USD 135) down to £2 (USD 2.7) could put 20,000 jobs at risk and cost the Treasury around £1bn (USD 1.35 B).

The bookie also warned that the change could hit consumers by driving gamblers into "more volatile products or less protected environments," CITYAM repots.

Announced in October last year, the government hopes that drastically reducing the stake on FOBTs will protect problem gamblers.

FOBTs have in the past been described as the "crack cocaine" of the betting world for how addictive and damaging they can be.

But gambling firms are concerned that the changes will negatively impact profits. Around a fifth William Hill's revenue comes from FOBT machines.

Devlin went on to call for a more proportionate reduction in maximum stakes, one that "balances the need to protect those in society that are vulnerable, against British businesses who want to maintain the highest ethical standards."