Treasury is now banking on a further online sports betting levy hike from next April
In light of betting shop closures on UK high streets, Bet Goodwin, a leading UK licensed bookmaker specialising in horse racing and greyhound betting, is warning that further online tax increases will stifle the industry further, leading to more closures.
The bookmaker has highlighted that the Treasury is banking on a further online sports betting levy hike from next April, despite clear evidence that the sector is already buckling under the weight of recent tax rises.
Ben Head, Director at BetGoodwin, commented: “The closure of 200 William Hill shops and the threat to 1,500 jobs is not an isolated event. It is the canary in the coal mine for an industry being squeezed from every direction. What we are witnessing is the direct consequence of last October’s tax hikes, yet the Treasury seems to believe it can keep turning the screw without consequence.
“The irony is that while the Government points to the statutory Horserace Betting Levy as justification for holding the line on remote horseracing duties, it is ignoring the cumulative damage being done elsewhere. Online casino duties have already jumped from 21 per cent to 40 per cent. And from next April, the online sports betting levy will climb from 15 per cent to 25 per cent. These are not modest adjustments. They are seismic shifts that fundamentally alter the viability of businesses up and down the country.
“We have already seen the early warning signs. Major brands are shutting high street locations. Operators are slashing marketing budgets. Staff are being told their roles are at risk. But the Government appears to view each of these developments in isolation rather than recognising them for what they are: the predictable outcomes of a sector being overtaxed and overregulated.
“What worries us most is what comes next. The regulated industry is the one that pays taxes, supports jobs, and operates under strict consumer protections. Every time you tighten the vice on legitimate operators, you risk driving customers towards the unregulated black market where there are no safeguards, no tax contributions, and no accountability. That is not a theoretical risk. It is already happening.
“The Treasury’s own forecasts assume these tax rises will generate significant revenue. But those forecasts do not account for the businesses that will close, the jobs that will disappear, or the customers who will simply take their business elsewhere. When a betting shop closes or an operator pulls back on investment, that revenue does not magically reappear elsewhere. It is lost.
“This industry employs tens of thousands of people across Britain. From the shop floor staff in high street bookmakers to the technology teams building safer gambling tools, these are real livelihoods. The message to the Treasury is simple: you cannot keep treating this sector as a cash cow without eventually killing it. The William Hill closures are not a warning about what might happen. They are a warning about what is already happening.”
BetGoodwin is renowned for its competitive odds and customer-centric approach. Beyond the track, the company leverages its expertise in data and probability to provide unique insights into UK lifestyle trends and statistical analysis.
The post BetGoodwin warns of further betting shop closures if online taxation rises again next year appeared first on G3 Newswire.
Treasury is now banking on a further online sports betting levy hike from next April In light of betting shop closures on UK high streets, Bet Goodwin, a leading UK licensed bookmaker specialising in horse racing and greyhound betting, is warning that further online tax increases will stifle the industry further, leading to more closures….
The post BetGoodwin warns of further betting shop closures if online taxation rises again next year appeared first on G3 Newswire.