The Association of British Bookmakers (ABB) took aim at the Government’s decision on Thursday to cut stake limits on fixed-odds betting terminals (FOBT) fro £100 to £2.
The decision was just one part of a wide-sweeping crackdown on gambling, with the age limit of playing the National Lottery games set to be reviewed and a multimillion-pound advertising campaign promoting responsible gambling, supported by the industry and GambleAware, also to be launched later this year.
The Government said it will fund the anti-gambling activity through an increase in remote gaming duty and pledged to work with the gambling sector to ensure it has sufficient time to introduce the stake reduction and technological changes.
Prominent bookmakers had campaigned in the lead-up to the decision by suggesting that they would be susceptible to job losses and foreign takeovers if the stake was cut.
It was a familiar refrain on Thursday, but the ABB also warned that those who play FOBTs could move in to an online environment.
"This is a decision that will have far-reaching implications for betting shops on the high street,” the umbrella organisation said in a statement.
"We expect over 4,000 shops to close and 21,000 colleagues to lose their jobs.
"The independent expert advice warned that this would simply shift people, the majority of whom gamble responsibly, to alternative forms of gambling where there is less chance of human interaction and its impact on problem gambling levels is far from certain.
"As the industry adjusts its business model, those shops that do survive will continue to provide a safe place to gamble with staff interaction and industry leading responsible gambling measures and support British sport."
Tony Franklin, a former betting addict and campaigner for the Gambling Hurts pressure group, told the BBC’s Today Programme: "Today's announcement by the Government is a victory for common sense and a victory for all the problem gamblers and their families who have been impacted by fixed-odds betting terminals on the High Street.
"I hope that this decision sends shivers across the industry, that if you extract money from the poor and vulnerable you will ultimately be held accountable."
Brian Chappell has been a tireless campaigner against FOBTs under his Justice for Punters organisation and told the Press Association: "This is a huge decision, because the Government has finally recognised that problem gambling is a public health issue that is costing more than the tax income received from gambling.
"These machines were introduced through the back door on to UK high streets. They've been trouble ever since. This decision means the betting shop environment will become safer for staff and customers."
Liberal Democrat FOBTs campaigner Lord Foster, said: "It has taken the Government an eternity to reach this decision but it is finally the right one.
"Reducing the stake to £2 provides more protections to those that can easily get addicted to these machines.
"This is a victory for more responsible gambling and will hopefully reduce the damage that these machines are proven to do."
Swansea East MP Carolyn Harris, one of the leaders of the parliamentary campaign for reform of laws governing FOBTs, said she was "really delighted" by the announcement.
"This is something I, and many others, have long campaigned for," said Ms Harris.
"FOBTs have caused too much social harm and huge losses for those who can least afford it. Last year there were more than 230,000 individual sessions in which a user lost more than £1,000.
"These machines have increased the risk of problem gambling which carries a very significant social and economic cost. "This was morally the right decision to make and it is victory for all those people whose lives have been blighted by these toxic machines."
The Gambling Commission conducted a review of FOBT activity in March and recommended that while FOBT slot stakes should be limited to £2, non slot games such as roulette should be merely reduced from £100 to ‘below £30’ if it was to have a significant effect on the potential for players to lose large amounts of money in a short space of time.
At the heart of the advice was an aim to reduce the risks that consumers, especially those that are vulnerable, face from gambling.
Neil McArthur, chief executive of the Gambling Commission, said: "We're pleased the Government has supported a comprehensive package of measures to protect consumers, and that this includes a substantial stake cut.
"Whilst we welcome the reduced stake, that alone will not be enough to address the risks of harm that can come from all forms of gambling.
"That is why we will continue to act in other ways to reduce those risks - including delivering enhanced consumer protection for online gambling in the areas of customer verification, fairness and interaction, implementing strong penalties for businesses who breach advertising guidelines, and reviewing gambling product characteristics to identify whether particular features pose greater risk of harm than others."
The chief executive of amusement machine industry trade body Bacta, John White, said: "We warmly welcome this announcement.
"A stake reduction to £2 has long been needed to protect consumers from the harm caused by FOBTs.
"This is a decision that puts player protection first, and will allow the gambling industry as a whole to move forwards and create a safer, more socially responsible environment for consumers.
"It is a testament to the wide-ranging campaign for stake reduction from concerned individuals and organisations across politics, public health and the wider gaming sector. The Government has made the right decision and it now needs to be implemented without delay."
Social media reaction to Thursday's decision to cut stakes to £2: