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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.



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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