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UK Bookies Fighting FOBT Tax Hikes

Monday April 28,2014 : U.K. BOOKIES FIGHT BACK ON F.O.B.T. TAX HIKE (Update)
 
10,000 jobs could be at risk here, says trade association.
 
The trade body representing the UK bookmaking industry, the Association of British Bookmakers, is fighting back on a surprise proposed tax hike by the government which could see a 25 percent tax rate on the controversial betting machines.
 
Notification on the tax increase has already wreaked havoc on share prices, wiping GBP 460 million off the market valuations of leading companies like William Hill and Ladbrokes.
 
The ABB has advised that it is to present Chancellor George Osborne with a million-signature petition against the proposed legislation this week, and has warned that implementation of the tax puts 10,000 jobs at risk.
 
Articles on the crisis appeared widely in the UK over the weekend and Monday morning, reporting that the government is also set to unveil new measures handing local councils the power to veto the opening of new betting shops in towns
 
“There is no concrete evidence to show action on gaming machines will do anything to minimise problem gambling. Less than one percent of gamblers are problem gamblers. And that number is falling,” the Association's chief executive Dirk Vennix told CityAM.
 
“Let’s be clear, thousands of jobs are in jeopardy following the chancellor’s Budget. They will be lost forever if further action is taken.”
 
Other publications have pointed out that the review on FOBTs carried out last year by the Department of Culture, Media and Sport found that only 2.5 percent of bets on FOBTs are made at the much-publicised maximum GBP 100 stake level.
 
There have also been reports that the government, under media and activist pressure, is to lower the maximum bet limits on Fixed Odds Betting Terminals in betting shops. Such new restraints would follow voluntary Association of British Bookmakers amendments that have already been implemented by most UK bookies.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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