Proposed New UK Gambling Tax

[RichardJP1968]

What is the general view on the impact for UK-based Betfair traders from the proposed new Gambling taxes?

[tryingtotrade]

It’s just for the betting companies not the punters isn’t it

[Simone]

This could actually work in the exchange's favour, because mainstream bookmakers would probably have to increase their margins and offer poorer prices, so they wouldn't be able to compete with the exchange's odds.

[Simone]

In its official announcement, Evoke said it has begun a review of strategic options to maximise shareholder value, including but not limited to a potential sale of the group or some assets or business units, and it emphasised there is no certainty that any transaction will occur; it will make announcements when appropriate. The company noted that the new UK tax regime could increase duty costs by around £125 million to £135 million annually once fully implemented.

That said, the effect of these changes will be felt differently across the industry.

Operators that are already underperforming will probably struggle more than those with stronger balance sheets. The real impact could range from the extreme scenario suggested by Evoke in its statement to no significant change at all, or somewhere between the two.

For reference, here is the source:
https://igamingexpert.com/features/evok ... le-uk-tax/