Isn't this Fixed odds betting terminal how most slots work in North America as well? I'm aware of a few places where it isn't required. But the reality is if your RTP is something like 10%, not many people are coming by that often
A fixed-odds betting terminal is a type of slot machine. But unlike other categories of slot machine, it was (at one time) allowed a maximum bet of £100 and a maximum payout of £500. The RTP was around 95%, but allowing such a large maximum bet meant you could easily lose a lot of money, very quickly.
In 2019, the regulations changed to make the maximum bet £2 (50 times lower), in line with most other slot machines.
Yes, as far as I know, there are no stake limits on real games in real-life casinos.
The stake limits are for slot machines (online and offline) to stop gamblers rapidly losing their life savings.
The nearest regulations for real casinos are allowing players to set a deposit limit (so e.g. they can't spend more than £X per day) and that games can't run "fast" - no more than 50 games per hour/table. Also the local council controls what the casino's opening hours can be.
