Latest news with #RemoteGamingDuty
Scottish Sun
29-04-2025
- Business
- Scottish Sun
Horse racing faces fresh risk of ruin as Rachel Reeves mulls hiking taxes on betting
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) CHANCELLOR Rachel Reeves is considering a betting tax rise — placing the struggling racing industry at fresh risk of ruin. The Treasury wants to lift the levy for punts on the gee-gees from 15 to 21 per cent to put in on a par with online gaming, slot machines and casinos. Sign up for Scottish Sun newsletter Sign up 2 Rachel Reeves is mulling a betting tax hike on betting — putting the struggling racing industry at fresh risk of ruin Credit: Getty 2 The Treasury wants to lift the levy for punts on the gee-gees from 15 to 21 per cent Credit: Steve Davies/ Critics argue the move would see less sponsorship, prize money and support from the betting giants that keep the racing industry alive. Any new rate would be announced in a Budget. Ministers have already proposed replacing the General Betting Duty, which applies to racing, and the Remote Gaming Duty, with a single Remote Betting and Gaming Duty. It would be applied to all bets, regardless of where they are laid, and comes as punters increasingly use mobile devices to place wagers. Grainne Hurst, boss of the Betting and Gaming Council, said equalising the tax rates would be 'catastrophic for racing's fragile finances'. She said a new rise, so soon after a White Paper which cost the sector more than a billion pounds, 'will not raise more money for the Treasury'. She said it was likely to force firms to push investment and jobs overseas. Punters, she added, would turn to the gambling black market online which pays no tax and has no safer gambling protections. The Treasury insisted the changes would not affect high street bookies and bingo halls and cut red tape for firms by reducing the number of returns they have to make. It said no exact rates had yet been decided.
The Sun
29-04-2025
- Business
- The Sun
Horse racing faces fresh risk of ruin as Rachel Reeves mulls hiking taxes on betting
CHANCELLOR Rachel Reeves is considering a betting tax rise — placing the struggling racing industry at fresh risk of ruin. The Treasury wants to lift the levy for punts on the gee-gees from 15 to 21 per cent to put in on a par with online gaming, slot machines and casinos. 2 Critics argue the move would see less sponsorship, prize money and support from the betting giants that keep the racing industry alive. Any new rate would be announced in a Budget. Ministers have already proposed replacing the General Betting Duty, which applies to racing, and the Remote Gaming Duty, with a single Remote Betting and Gaming Duty. It would be applied to all bets, regardless of where they are laid, and comes as punters increasingly use mobile devices to place wagers. Grainne Hurst, boss of the Betting and Gaming Council, said equalising the tax rates would be 'catastrophic for racing's fragile finances'. She said a new rise, so soon after a White Paper which cost the sector more than a billion pounds, 'will not raise more money for the Treasury'. She said it was likely to force firms to push investment and jobs overseas. Punters, she added, would turn to the gambling black market online which pays no tax and has no safer gambling protections. The Treasury insisted the changes would not affect high street bookies and bingo halls and cut red tape for firms by reducing the number of returns they have to make. It said no exact rates had yet been decided.
The Irish Sun
29-04-2025
- Business
- The Irish Sun
Horse racing faces fresh risk of ruin as Rachel Reeves mulls hiking taxes on betting
CHANCELLOR Rachel Reeves is considering a betting tax rise — placing the struggling racing industry at fresh risk of ruin. 2 Rachel Reeves is mulling a betting tax hike on betting — putting the struggling racing industry at fresh risk of ruin Credit: Getty 2 The Treasury wants to lift the levy for punts on the gee-gees from 15 to 21 per cent Credit: Steve Davies/ Critics argue the move would see less sponsorship, prize money and support from the betting giants that keep the racing industry alive. Any new rate would be announced in a Budget. Ministers have already proposed replacing the General Betting Duty, which applies to racing, and the Remote Gaming Duty, with a single Remote Betting and Gaming Duty. It would be applied to all bets, regardless of where they are laid, and comes as punters increasingly use mobile devices to place wagers. Read More on Sport Grainne Hurst, boss of the Betting and Gaming Council, said equalising the tax rates would be 'catastrophic for racing's fragile finances'. She said a new rise, so soon after a White Paper which cost the sector more than a billion pounds, 'will not raise more money for the Treasury'. She said it was likely to force firms to push investment and jobs overseas. Punters, she added, would turn to the gambling black market online which pays no tax and has no safer gambling protections. Most read in Horse Racing The Treasury insisted the changes would not affect high street bookies and bingo halls and cut red tape for firms by reducing the number of returns they have to make. It said no exact rates had yet been decided. Rachel Reeves is a fiscal fantasist of the highest order… there are only four things that will grow under her policies
The Sun
29-04-2025
- Business
- The Sun
Treasury's proposed new Remote Betting & Gaming Duty would be 'catastrophic for Racing's fragile finances' BGC warn
BETTING & GAMING COUNCIL chiefs have warned HM Treasury any further tax increases would be "catastrophic for Racing's fragile finances". It comes following a proposal into 'The Tax Treatment of Remote Gambling' which would see taxes hiked further, due to the increase in remote users in gambling. 2 The latest proposal follows fresh on the heels of the gambling White Paper, which hit the gambling sector's revenue by over a billion pounds. Trends have shown that punters are using mobile devices more and more for their betting. At present, the structure of tax makes clear distinctions between general betting, pool betting and remote gaming, with the government suggesting it now doesn't reflect the increased use of the latter. As such, they're looking to introduce a new single remote gambling tax - named Remote Betting & Gaming Duty - which would include 'betting and gaming activities offered remotely such as online casino, and remote betting including general and pool betting'. But BGC chiefs have hit back, saying its members already contribute £6.8bn to the economy and generate £4bn in tax", while any further tax increases would 'make a mockery of the government's strategy for growth'. They've also warned it could have a detrimental impact on punters moving into the black market for their gaming, and also for the future of horse racing, which is already battling with its finances. Betting and Gaming Council CEO, Grainne Hurst, said: 'Raising taxes further now on regulated betting and gaming through a new single tax would be utterly self-defeating for the Government, while making a mockery of their growth strategy. 'Any potential further increase in taxes on our members, so soon after a White Paper which cost the sector over a billion pounds in lost revenue, will not raise more money for the Treasury. 'If General Betting Duty is raised to the same level as Remote Gaming Duty under one new tax, it would be catastrophic for Racing's fragile finances. 'It will also likely force businesses to push investment and jobs overseas, while making their products more expensive for UK customers, driving them to the growing unsafe gambling black market online, which doesn't pay a penny in tax and doesn't have any of the safer gambling protections available in the regulated sector. 'BGC members contribute £6.8bn to the economy, generate £4bn in tax while supporting 109,000 jobs, but this flawed approach can only lead to a spiral of decline. 'Government must listen to business and sport and not drive growth, investment and jobs out of one of the UK's few global business success stories.' Remember to gamble responsibly A responsible gambler is someone who: For help with a gambling problem, call the National Gambling Helpline on 0808 8020 133 or go to to be excluded from all UK-regulated gambling websites.
