Speaking at a betting industry seminar on Tuesday, Chairman of the British Racecourse Association Keith Brown announced that UK punters could face what is effectively a new betting tax, just months after the Chancellor abolished the 9% deductions from bets in favour of a gross profits tax.
As a result of the proposed charges of 2.5% of total betting turnover in exchange for the right to receive live footage and pre-race data, which the British Horseracing Board plans to introduce in May, high street bookmakers may be forced to pass additional costs on to their customers. This is despite the fact that following the recent betting tax reforms, senior racing administrators insisted that no new charges or taxes would be necessary.
Speaking to the head of William Hill, John Brown, Keith Brown described the charges as: 'a challenge that you have to meet and the way to do that is by increasing your margins.' He added that: 'everything has got to be paid for at the end of the day.'
Bookmakers fear that the British Horseracing Board's move may turn the tide for the betting industry yet again, discouraging offshore operators from returning to such a costly location, and driving existing UK operators overseas.
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