UK Online Gambling Tax Could Backfire
The United Kingdom is proposing a point of consumption tax on online gambling of 10 percent that could force current operators offshore.
In anticipation of this tax, William Hill conducted its own study and found the following, a la the Telegraph:
It finds that as much as 27pc of current revenues would disappear into the “grey”, or unregulated, market. At 15pc tax, the figure rises to 40pc.
William Hill has submitted the report, seen by The Daily Telegraph, to the Treasury, which is reviewing a new tax regime for remote gambling.
UK consumers currently spend about £1.7bn a year – roughly 18pc of total UK gambling revenues – with online gambling companies.
The inevitable consequences is that punters will be driven to unregulated offshore sites while smaller operators are likely to be forced out of the market.
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- Gilbert Horowitz, Gambling911.com
