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Uk; No Time For Tax Increase Says Betting Boss

Top British gambling industry executives have warned the British government that tax increases and tighter regulation on fixed odds betting terminals could have a detrimental effect on the industry that could be manifested in closed shops and lost jobs, reports The Telegraph newspaper this week.
 
Tax and restrictive measures would not only initiatiate business cut-backs, but also undermine the ability of British gambling groups to effectively compete with offshore rivals, warned Chris Bell of Ladbrokes,  Gala Coral's Neil Goulden and Ralph Topping of William Hill in a meeting with Minister of Sport Gerry Sutcliffe and Angela Eagle, Exchequer Secretary to the Treasury the newspaper reported. caribbean gold casino - USA Welcome
 
The government officials were informed that the industry directly employed 40 000 people and supported a further 60 000 jobs in racing and other betting-dependent industries an that British companies might be forced to consider re-locating if tax and regulatory burdens became too onerous.
 
The meeting took place against a backdrop of speculation that government was considering a raise in gross profits tax from 15 percent to 17 percent and the introduction of tougher regulations on fixed-odds betting terminals.
 
The executives made a presentation to the government representatives, drawing attention to the GBP 920 million bookies pay annually in direct taxes, including corporation tax, gross profits tax and VAT – a figure that tops GBP 1 billion when local taxes are included. Betting companies also contribute more than GBP 130 million a year in levies to the horse and greyhound racing industries, while providing sporting events with GBP 100 million via sponsorship and other commercial arrangements.
 
"Analysis by London Economics indicates that an increase in gross profits tax from 15 percent to 17 percent would result in the closure of 845 betting shops and see the loss of 3 190 full time jobs," the bookies warned in the presentation. pointing out that the recession was already hurting 2 500 of the UK's 8 600 shops that are making less than GBP 30 000 profit per year.
 
The industry delegation emphasised the "severe competitive pressures from offshore operators paying little or no tax or levies", such as the Internet and telephone businesses of Irish bookie Paddy Power and Gibraltar-based Bwin.
 
Paddy Power, for example, routes such bets via servers on the Isle of Man, paying only 1.5 percent tax on gross profits – a saving that it can then recycle into advertising and into offering better odds to UK punters.
 
Warwick Bartlett, the Association of British Bookmakers chairman, said: "The problem is that the tax rate on e-gaming is too high in the UK." He added that bookies were having to reconsider whether they could remain located in Britain.
 
"They are reaching a tipping point," Bartlett said. "It's not a question of what they want to do. They have got the staff here, the expertise here and the infrastructure here. But they may not have a choice. Their shareholders are going to start asking what are you doing here?"



Gambling News :

NHL Odds: Lightning go for Season Sweep Over Red Wings - The Tampa Bay Lightning (37-29-9) have been doing everything possible to make a fourth straight appearance in the Stanley Cup Playoffs. Without star centre Steven Stamkos, Nikita Kucherov (38 goals, 40 assists) and Victor Hedman (15 goals, 47 assists) have stepped up and will look to continue their strong play against the Wings. Game time is 7:30 PM ET on FS-D.

MPN Charity Poker Tournament at ICE 2017 - During what was a busy three-days for Microgaming at ICE Totally Gaming 2017, the MPN team enjoyed a charity poker tournament with Microgaming operators on Tuesday 7 February.

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.

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