UK Budget: Gambling Tax to Rise to 40%.

Growth of the Dangerous Gambling Business

According to The Sun: Yesterday, bookmakers warned of the growth of dangerous illegal gambling after new tax changes of over £1.1 billion were introduced. The owner of Paddy Power, Flutter, reported that these changes, initiated by Rachel Reeves, will reduce their profits by £434 million.

The Chancellor sparked outrage by announcing that taxes on online casinos will rise from 21% to 40% in April.

“Rising taxes may lead to an increase in illegal gambling, which is dangerous”

As the overall gambling market becomes increasingly tight, bookmakers are paying attention to the potential consequences of these changes for the industry.

Thus, the new tax rates may not only reduce the profits of legal operators but also push players to seek alternatives in the shadow sector. This, in turn, creates serious risks for both the industry itself and consumers.