Subject of debate since 2014
UK Sports Minister Tracey Crouch and the country’s Department of Culture, Media and Sports plans to implement a 10 percent gross profit charge on racing wagers. The tax, which was first proposed in 2014 and was supposed to be introduced in April, will apply to both online and retail wagers, according to SBC News.
The department estimates the new levy will mean up to raise £100 million (US$123 million) for UK racing.
Retail operators Ladbrokes, William Hill, Coral and Betfred have not yet agreed to levy terms for their online betting operations.
Representatives of the industry have until November 4 to present their objections and any alternate proposals in writing.
