BGC warns UK tax plans could drive gambling activity to illegal market
The Betting and Gaming Council warned that UK government tax plans could shift players to the illegal market, according to a report. The trade body cited an estimate of about £500m in cumulative revenue losses by 2029-30 and said EY analysis projected more than £6bn in betting activity moving offshore; the government expects the changes to raise £1.1bn a year.
The competing forecasts affect operators’ tax expectations and the projected size of the regulated and illegal markets.