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JPMorgan analysts criticise proposed UK gambling tax increases

Regulation

JPMorgan analysts Estelle Weingrod and Karan Puri warned that proposed UK gambling tax increases could drive operators and players towards unregulated markets, according to the report. One think tank’s proposal would raise remote gaming duty to 50%, potentially generating £2.9bn initially and £3.4bn by 2030; the report also said government sources indicated there were no current plans for a gambling tax rise.

The proposals could affect UK operators’ tax exposure and competition with unregulated gambling markets.

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Regulation

BGC urges UK government to rule out further gambling tax increases

Reportedly, the BGC has called on the UK government to exclude further gambling tax rises from its next budget. Gambling company executives also want the government to suspend a tax increase.

The Betting and Gaming Council (BGC) has asked the UK government to rule out further increases in gambling taxation in the next budget and to suspend a planned rise in betting duty. The request was made in a letter to the Chancellor of the Exchequer, John Healey, signed by the chief executives of Entain, Flutter UK & Ireland, bet365, Bally's Corporation, evoke and Betfred, all BGC members, according to the report.

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