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IRISH ONLINE BOOKIES FACE TAX INCREASE

03/11/2012 :  IRISH ONLINE BOOKIES FACE TAX INCREASE
 
Newspaper sources claim tax hike to same levels as land bookmakers is imminent
 
The Sunday Independent newspaper claimed over the weekend that impeccable sources have revealed that online bookmakers operating in Ireland will be liable for the same betting taxes as high-street shops, to allow the horse racing industry pay for itself.
 
The Itish taxpayer currently subsidises the horseracing industry to the tune of Euro 56 million a year, and government's objective is to do away with this state largesse.
 
"Agriculture Minister Simon Coveney is to bring forward legislation to subject all bookmakers taking bets from Irish punters to a one percent tax on all of their transactions, to reduce the burden on the taxpayer," the newspaper claims.
 
Minister Coveney has also apparently commissioned a major enquiry into the horse-racing industry by consultancy firm Indecon, which will focus on the trade association, Horse Racing Ireland, which is the subject of criticism by bookmaking companies.
 
To date, online betting operators have not been liable for taxation, whereas all bets made in high-street shops are subject to the one percent betting tax.
 
The new law will require all bookmakers to pay for a licence to operate in Ireland. This means offshore operations will be drawn into the Irish tax net for the first time, the Sunday Independent notes.
 
Major bookmaking groups like Ladbrokes, Boyle Sports and Paddy Power have been involved with Minister Coveney's department in the process, although they are understood to be unhappy with the outcome.
 
The deliberations on tax and online operators is a long-running issue that has been repeatedly discussed and debated in Ireland, with the practicality of enforcing such a tax regime on offshore companies operating over the internet and through mobile devices a serious problem for the authorities.
 
Traditional shops argued earlier this year that given the sharp decline in their business, a turnover tax is not viable.
 
The latest figures show that from a high of Euro 3.66 billion in 2008, turnover in shops fell to about Euro 2.7 billion last year. In the same period, online and telephone betting revenue rose from Euro 700 million to Euro 900 million.
 
Revenue from betting duty has been declining. In 2001, betting returned almost Euro 70 million to the State but that has since plummeted to under Euro 30 million.
 
Paddy Power, whose 2011 financial report showed that almost 80 percent of its profits are now generated by online operations, told the newspaper that the success of the tax would hinge on how it was policed.
 
"It is essential that it is a level playing field. It will need to be robustly policed to ensure everyone pays the same. We have no problem paying tax on our online earnings, we realise the situation the country finds itself in," a spokesman said.



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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.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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