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EY estimates UK betting tax alignment could cost 4,700 jobs

Regulation

EY’s report, commissioned by the Betting and Gaming Council, estimates that aligning UK betting duty with remote gaming duty could add about £250m in annual revenue. It projects a £240m fall in gross value added, 2,800 to 4,700 job losses and an increase of £400m to £1.2bn in black-market stakes under that scenario. The analysis assesses four tax-reform scenarios using 2024 market data.

The estimates set out possible revenue gains alongside employment, economic-output and black-market effects for UK tax policy.

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Flutter to cut more than 1,000 jobs after UK gambling tax rises

Flutter, owner of Paddy Power, Sky Bet and FanDuel, announced on Tuesday it will cut about 15% of its workforce in the UK and Ireland, affecting up to 1,400 staff. The company said the restructuring responds to steep online gambling tax increases announced in last November's UK Budget. Flutter put the reorganisation cost at $80m to $90m.

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