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government has delivered on its threat to slash the maximum bets on so-called “fixed-odds betting terminals,” the brightly-colored, casino-style games played on a screen in-store. The upper limit will now be 2 pounds ($2.70), down from 100 pounds ($135), every 20 seconds. Politicians have given a very clear and succinct reason for the cap: Problem gamblers are a greater cost to society than to themselves. And, given how easy it is to get hooked, it takes drastic measures to make progress. The response from the gambling industry — though not entirely uniform — has been to protest at the shop closures, job losses and financial pain that will result. William Hill has said 900 of its stores would become unprofitable immediately, as more than two-thirds of its net revenue from gaming machines came from bets above the 2 pound limit. It said annualized adjusted operating profit would fall by an estimated 70 to 100 million pounds, after closures and cuts. But it’s hard to get that worked up about the corporate impact. Shares of GVC, William Hill and Paddy Power Betfair rose by 2 to 4 percent on Thursday.

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