UK announces mandatory levy and online slot limits

[The Buzz]

The U.K. government is set to introduce a mandatory levy on casinos and bookmakers, requiring them to contribute £100 million annually to address gambling-related harms. This new measure will replace the current voluntary system, where operators choose their level of donation and the recipient organizations.

Expected to be announced this week by gambling minister Baroness Twycross, the statutory levy will mandate gambling firms to pay 1% of their gross gambling yield (GGY) to support research, education, and treatment programs related to gambling addiction. The levy is expected to be implemented from April 2024.

This move has garnered support from the Labour party, signaling a cross-party consensus on tackling the growing issue of gambling-related harm in Great Britain.

From The Guardian:

Based on figures from the Gambling Commission, which showed that the industry won £10.9bn from gamblers in Great Britain in the last 12 months, this would raise £109m.

However, a consultation on the proposal, published last year, envisaged a lower rate of 0.4% for land-based operators that have higher costs, such as high street bookmakers and casinos. The consultation also said firms with gambling revenues of less than £500,000 would be excluded.

Iain Duncan Smith, who chairs an all-party parliamentary group (APPG) of MPs examining gambling harms, said: “I am delighted that the statutory levy, which the APPG first proposed five years ago, is finally being introduced.

“For the first time the gambling industry will be mandated to pay for the harm they cause. Whilst there is much more to do but this is a seismic moment and a huge step forward and I welcome it unreservedly.”

Read more here: https://www.theguardian.com/society/...iction-charity

Read the press release here: https://www.gov.uk/government/news/s...-gambling-harm

[newcustomeroffer]

I guess we can expect our 'admin fees' to increase to cover this.

[Pokerface]

And where do all the other taxes collected from casinos and bookmakers go? The solution in the UK is to tax every angle and if it is already taxed increase the tax.