Results 1 to 3 of 3
  1. #1
    The Buzz's Avatar
    The Buzz is offline GPWA Gossip Hound
    Join Date
    February 2007
    Newton, MA
    Thanked 1,454 Times in 880 Posts

    Default Gambling tax rise in Ireland could result in the loss of 2,500 jobs

    According to the Irish Bookmakers Association, next week's pending move to double the gambling tax rate will put around 35% of the country’s 850 betting shops at risk of closure and threaten approximately 1,500 jobs.

    The current tax rate on betting turnover is 1% and the government is going to increase it to 2%. The country’s finance minister Paschal Donohoe is expected to announce the new tax regime on 9 October.

    From The Racing Post:

    Irish Bookmakers Association chairwoman Sharon Byrne on Thursday issued a stark warning of major job losses in the Irish bookmaking sector should minister for finance Paschal Donohue decide to increase betting tax in next Tuesday's budget.

    Byrne was reacting to recent media speculation, including an article in the Irish Examiner in which unnamed "government sources" suggested the Independent Alliance, minority partners in the Fine Gael-led government, have succeeded in convincing Donohue to double the rate from its current one per cent to two per cent, and quoting a likely €50 million increase in revenue as a consequence.

    Byrne said: "We are extremely worried about reports that the betting tax is to be doubled in the upcoming budget. The claim that it would net a further €50m for the exchequer is absolute fantasy.
    Read more here:

  2. The Following 2 Users Say Thank You to The Buzz For This Useful Post:

    Cash Bonus (6 October 2018), TheGooner (6 October 2018)

  3. #2
    TheGooner's Avatar
    TheGooner is offline Private Member
    Join Date
    March 2007
    New Zealand
    Thanked 4,151 Times in 1,972 Posts


    A tax of 2% on turnover is significant given that most bookmakers margins on turnover is 5-7% total.
    Factor in running costs of betting shop operations like staff, property and fitout and physical shops become a losing effort.

    I would not be surprised to see small shops close as the push goes to more and more online services for better efficiency.

    The drive for more tax seems to be coming from two groups - Horse Racing Ireland and Gambling Addiction Groups - who both have the idea that they'll get greater funding from this increased tax take.

    It will negatively impact local employment, and may even kill the golden goose for these special interest groups.

  4. The Following User Says Thank You to TheGooner For This Useful Post:

    RacingJim (7 October 2018)

  5. #3
    matthewt's Avatar
    matthewt is offline On Vacation
    Join Date
    July 2006
    Blog Entries
    Thanked 202 Times in 157 Posts


    That article has too many big words and terms. (E.g., exchequer, permanent funding mechanism, umbrella-grouping, ring-fence betting) Sounds like the editor is being convoluted. The reason??? They don't see the importance in helping the public understand what is going on. Right?

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts