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The tax on online sports betting will be increased in the UK. The UK's Chancellor of the Exchequer has announced a rise in British online betting tax to 21% in October 2019 to offset the loss expected from the cut in maximum stakes on fixed-odds betting terminals. The rise of tax on online sports betting was expected in the Budget, but some industry experts consider it may leave some operators questioning whether it is worth continuing to operate in Great Britain, given the current fiscal and regulatory environment. Richard Williams, Licensing, Gaming and Regulatory Partner at London law firm Joelson, said that although there had been speculation in the press that the Chancellor would increase the rate from 15%, the announcement that it will increase to 21% will come as a shock.
it's too high!! The tax on online sports betting will be increased in the UK. The UK's Chancellor of the Exchequer has announced a rise in British online betting tax to 21% in October 2019 to offset the loss expected from the cut in maximum stakes on fixed-odds betting terminals. The rise of tax on online sports betting was expected in the Budget, but some industry experts consider it may leave some operators questioning whether it is worth continuing to operate in Great Britain, given the current fiscal and regulatory environment. Richard Williams, Licensing, Gaming and Regulatory Partner at London law firm Joelson, said that although there had been speculation in the press that the Chancellor would increase the rate from 15%, the announcement that it will increase to 21% will come as a shock.
