Overview
- The Daily Telegraph reported the November 26 budget is expected to leave sports-betting duty unchanged while raising rates on Fixed Odds Betting Terminals and online casino-style games in a move targeting about £1 billion, though no decision is final.
- Industry figures caution that taxes across products are intertwined, so higher gaming duties would still squeeze margins and threaten retail betting outlets even if sports betting is untouched.
- Regulus Partners estimates betting shops contribute roughly £100 million in media rights and £40 million in levy to racing each year, with more than £20,000 lost to the sport per shop closure across about 6,650 shops in Britain and Ireland.
- Operators have warned of widespread closures and cost-cutting, with Betfred’s Fred Done saying all 1,272 shops could shut if rates rise and Entain and Evoke also flagging potential shuttering alongside reduced promotions and less generous odds.
- Funding has already been pulled or paused, including Flutter’s £1 million withdrawal from the Champions: Full Gallop series and a Levy Board review, as the BHA continues its campaign against duty changes and cites modelling of a potential £66 million annual hit if general betting duty increases.