FOBT subject to tax increase to reduce profitability

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by , 2 April 2014 at 4:14 pm (1644 Views)
Just thought my latest post may interest some of the UK users, I'm sure plenty will of heard of "Tory Bingo" regarding the reduction of bingo tax from 20% to 10%. The bingo amendments in the budget seems to be well thought out and I hope that the halls will increase over the years - I think it provides a pretty good community service, certainly to the elderly. Many people I know visit bingo for a "night out" rather than going to win money, that's a bonus.

The post I've made is in relation to the FOBT machines in the UK, which stands for Fixed Odd Betting Terminal or many of you may know them as the gamblers "crack cocaine". These machines made well over 1bn in revenue in 2013 and are massively profitable for land based gaming, the government has increased the tax on these by 5% - not a vast amount, each machine is worth on average 35k Sterling per machine.

You can read the full article here: Highly Addictive FOBT Tax Hike