UK Intros New Horserace Tax

By Sat, Apr 29, 2017

The UK government has confirmed that a new 10 percent tax on profits derived from horse racing went into effect last week. There is a £500,000 (US$645,200) threshold on the levy charge for licensed operators.

A new horserace betting levy took effect in the UK on April 25.

According to SBC News, the new tax will require all operators to pay a 10 percent tax on profits generated from customers on UK racing bets, both online and land-based. The UK government has added a £500,000 (US$645,200) limit on the levy for licensed operators. “Levy 2017” is expected to generate from £30 million to £40 million per year for sports funding.

Articles by Author: Steve Karoul

Steve Karoul is a well-known and respected casino consultant. He has lived and worked in many different countries and has conducted casino marketing activities in well over a 100 different countries around the world. Karoul understands both casino operations and casino marketing.  He is also a gaming industry innovator who openly shares his ideas and thoughts with fellow casino industry executives. For additional information, Karoul can be reached at skaroul@euroasiacasino.com  or www.euroasiacasino.com.

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