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More Gambling Taxes For Britan

Thursday July 24,2014 : BRITISH POLITICIANS MULLING EXPANDED LEVY ON GAMBLING
 
Labour MPs want to raise more money for social spending.
 
Opposition Labour Party politicians in the UK are reportedly planning to extend the current horse racing levy paid on horse racing bets taken by bookmaking companies to retail and online sports betting in general, raising millions which they plan to spend on social projects associated with problem gambling and grass roots sports development.
 
The Guardian newspaper reports that the proposal is set out in a new “sport for all” paper authored by Harriet Harman, the shadow culture secretary, and Clive Efford, the shadow sports minister.
 
A levy on all sports betting could raise a significant amount of money; the horse racing levy, for example, came in at around GBP 82 million this year.
 
“We believe it is right that businesses that make money from sport should contribute to sport," said Efford this week. "We are consulting on whether we should introduce a levy on betting, including online betting, to fund gambling awareness and support for problem gambling but also to improve community sports facilities and clubs.
 
“It’s my preference that the income from the levy went into a general pool to help grassroots sport and from which the respective sports would draw their future elite sportsmen and women. Football gambling online and in betting shops is now far larger than horseracing gambling and yet it does nothing to help the sport itself. I think they have a moral obligation to help the industry from which they make billions, and the results could be dramatic.”
 
The UK gambling industry overall generated revenues after winnings were paid of around GBP 6 billion in 2012-2013, and sports governing bodies are likely to support the Labour move as a source for more funding.
 
But the gambling industry claims that it already pays substantial taxes on its profits along with the horse racing levy, and further financial demands are unreasonable and could be counter-productive.
 
On the question of operators accessing the UK punter but based offshore, Efford says that the new point-of-consumption tax and licensing regime about to be introduced in Britain will simplify the problem of ensuring that online operators are included in the proposed sports levy.
 
Gambling companies are not the only ones in Labour's sights; Efford says that Premier League football should also be forced to return to its previous obligation to ensure that a 5 percent voluntary levy of its income from domestic TV rights is ploughed back into grassroots sport.
 
Efford said income from domestic football rights had risen by 75 percent in recent years, but instead of the Premier League helping the development of grassroots football, much of the money was going in parachute payments to relegated clubs or in straight donations to Football League clubs.
 
Domestic broadcast deals will generate about GBP 3.4 billion over the three seasons from 2013-14 for Premiership clubs, The Guardian reports. Overseas broadcasting rights covering more than 200 territories will generate a further GBP 2.2 billion.
 
The Premier League and FA Facilities Fund, managed by the Football Foundation, says it commits GBP 34 million per year to improving Britain’s grassroots football facilities. This includes GBP 12 million a year each from the FA and Premier League, and GBP 10 million from the government.
 
The Conservative Party, a member of the ruling coalition government in the UK, has shrugged off the Labour proposal, saying:
 
“This is yet another short-term gimmick from Labour. It is a tax on football fans which will mean higher ticket prices for ordinary people wanting to watch our national sport.”

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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