Tag Archives: budget

Winning Post: Industry braced for budget blow

Regulus Partners, the strategic consultancy focused on international gambling and related industries, takes a look at some key developments for the gambling industry in its ‘Winning Post’ column. UK: Politics – Budget Day to bring tricks not treats The pumpkins are out, fake cobweb and plastic skeletons adorn the pubs – but Halloween may come early for gambling operators with …

Read More »

Ladbrokes Politics offers the Buzz on Hammond’s budget

Ahead of the tomorrow’s National Budget presented by UK Chancellor of the Exchequer Philip Hammond, Ladbrokes Politics has launched its ‘Buzzword Bingo’ market. On Wednesday lunchtime, the UK prepares for the Chancellor’s annual speech at Commons, with Ladbrokes pricing up its special ‘Exchequer Budget Buzzword Bingo’ market, in which the bookmaker details that ‘Brexit’ at 1/3 will be the most …

Read More »

Online ‘free bet’ offers to be taxed for UK facing operators

During the Budget Speech yesterday the Chancellor George Osborne announced that UK licensed operators will soon have to pay a new tax on ‘free bet’ offers on online casino and bingo games. This is subject to the motion being approved, and should it be it will come into effect on August 1st 2017. This will mean that operators must pay …

Read More »

UK Government following French lead for racing funding changes

The UK Government will be applying for State Aid exemption to extend the horseracing betting levy to online bookmakers. The plans, revealed in today’s budget, show that rather than replacing the Levy Scheme, the DCMS is to attempt to alter it, following the line ploughed by the French authorities to introduce betting rights to sports. In a document responding to …

Read More »

Chancellor gives green light to horserace betting right

Cheltenham offer

Chancellor George Osborne has seemingly given the go-ahead for the long-standing Horseracing Levy to be replaced by a ‘betting right’ – presumably meaning that bookmakers will have to pay racing for the privilege of taking bets on the sport. In today’s Budget announcement, Osborne said that the Government was ‘introducing a horseracing betting right’ , although there was scant other …

Read More »

Is the time ripe for a Judicial Review of the Point of Consumption Tax?

David Clifton, director at Clifton Davies Consultancy Limited and speaker at SBC’s Betting on Football Conference, asks whether the time has arrived for a Judicial Review of the looming remote gambling changes? Now that Royal Assent in respect of the Gambling (Licensing & Advertising) Bill is looming and the 15% point of consumption tax has been confirmed in the Chancellor’s Budget …

Read More »

32Red strengthens performance

Online gaming operator 32Red has reacted with bemusement over the ‘sharp fall’ in its share price in recent weeks on the back of another year of record revenues. The operator suggests that it has suffered because other gambling firms have also seen their shares drop, but that was as a result of the UK Budget imposing greater taxes on retail …

Read More »

Tax increase hits bookmaker shares

Shares in Ladbrokes fell by almost 12 percent to 139.8p yesterday, while market leader William Hill was down 7 percent at 350.1p, as the market responded to Chancellor George Osborne’s latest tax raid on the betting industry. The Treasury increased the rate of Machine Games Duty (MGD) on games with a stake higher than £5 from 20% to 25%, with …

Read More »

Government ‘soaking’ of bookmakers will have consequences

The Association of British Bookmakers (ABB) claims that Chancellor George Osborne’s increase in tax on B2 Gaming Machines to 25% could see 30 per cent of the country’s betting shops in jeopardy. The organisation said in a statement: “The impact of the new Machine Games Duty (MGD) which came into effect last year and cost the industry an extra £50 …

Read More »

Gambling tax more complicated than ever

Barney Horn, indirect tax partner in the Deloitte betting and gaming group, has said that the Treasury has made gambling taxation more complicated than ever despite a trend for simplification. He explained: “Overall, while there has been much talk of simplifying taxes, the position has become increasingly complex with rates for seemingly similar gambling experiences being taxed at different rates. …

Read More »