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Bookies brace for Budget tax increase

Bookies brace for Budget tax increase

Regulatory changes have made it a difficult year to be in the gambling business, with the latest threat coming from a potential tax hike in the UK. It’s been reported that chancellor Philip Hammond will announce plans to increase the remote gaming duty paid by offshore gambling companies from 15 per cent on gross gambling yield to between 20 per cent and 25 per cent in the Budget on 29 October. This would effectively raise an estimated £1bn for the Treasury over the next five years.

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