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Bookies In Casino Gambling Hit

Thu, Aug 8, 2013 by Raymond Webb

Online Casino News

The traditional offline bookmakers have already suffered from the web taking over as the core gambling niche. Now, it looks like their casino operations are going to take a hit, not from online casinos – but from the dreaded tax man! In a ‘jackpot crack down’, the government plan on raiding casino machines found in high street betting shops. This week’s budget is set to instantly re-coup the profits gained by the companies on the back of the recent 100-1 shock winner of the Grand National, Mon Mome. At the moment, in-shop casino machines are taxed at a rate of around £2100 per year.

Casino industry experts forecast the taxable rate may well be increased to 20% and thinks the government are looking at the casino machines like hawks. Unfortunately for the bookmaking industry, casino machines have been their main flow of profit since the web stole a huge chunk of its custom. Last year the big two, Ladbrokes and William Hill, between them made more than £500 million from in-shop casino machines. The average betting outlet is scooping around £2500 in profit per week from casino gaming machines, that’s a cool £125,000 with a tax rate of 7%. No wonder the government are set to take their share.

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This post was written by:

Raymond Webb - who has written 28 posts on Online Casino News & Bonuses.

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