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UK government keeps horserace betting levy at 10%

Regulation

The UK government ended its review of the Horserace Betting Levy without changing its 10% rate, according to a written statement repeated in the Commons. It also ruled out extending the levy to bets on overseas racing. The British Horseracing Authority criticised the decision, while the Betting and Gaming Council welcomed it.

Bookmakers remain subject to the existing levy rate and scope, while racing bodies lose the proposed increase and extension.

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Regulation

BGC says possible MGD rise to 40% could put 16,000 UK jobs at risk

The Betting and Gaming Council says a possible increase in the UK’s Machine Games Duty to 40% could put up to 16,000 jobs at risk. It cites EY modelling that also estimates nearly 1,500 betting shops, up to 34 casinos and up to £124 million in Treasury revenue could be at risk. It was reported that the BGC asked the Government to rule out an MGD increase.

The Betting and Gaming Council (BGC) has said that a possible increase in the UK's Machine Games Duty (MGD) to 40% could put up to 16,000 jobs at risk, citing independent modelling by EY. The BGC, which represents the regulated gambling and betting industry in the UK, made the call ahead of the next Budget and asked the Chancellor to rule out any rise in MGD, to assess the effects of tax increases already introduced and to suspend a planned increase in General Betting Duty.

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