Gamblers lost £1.82bn on fixed odds betting terminals in the year to March 2017

The maximum stake on fixed odds betting terminals — dubbed the crack cocaine of high street gambling — is set to be slashed to £2 after the new culture secretary, Matt Hancock, decided the machines were a “social blight”.

Ministers have announced plans to cut the £100 maximum bet to between £2 and £50. A public consultation ends on Tuesday.

The Sunday Times understands that the “overwhelming” response has persuaded them to reduce the maximum stake to £2.

Campaigners against problem gambling feared Hancock might resist moves to slash stakes. His West Suffolk seat includes Newmarket racecourse and the minister, who has trained as a jockey, is perceived to be close to the industry.

But an ally said: “The analysis that he is pro-gambling because