Paddy Power has been warned over its future conduct by the Advertising Standards Authority (ASA) following its investigation into the bookmaker’s newspaper advert in The Sun on Sunday around the Oscar Pistorius trial. The advert, which offered ‘money back if he walks’, promoted a market on whether the South African Olympian would be found guilty or not of the accusation …
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Shares in Ladbrokes fell by almost 12 percent to 139.8p yesterday, while market leader William Hill was down 7 percent at 350.1p, as the market responded to Chancellor George Osborne’s latest tax raid on the betting industry. The Treasury increased the rate of Machine Games Duty (MGD) on games with a stake higher than £5 from 20% to 25%, with …
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Spanish media giant MARCA, famous for its daily coverage of Real Madrid, has entered the social gaming arena thanks to a partnership with social betting technology supplier Oddslife Ltd. Using the Oddslife platform, MARCA has launched ‘MARCA EL GURU’ – a customised social sportsbook platform that allows users to engage and compete with each other using their knowledge of sports. …
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The Association of British Bookmakers (ABB) claims that Chancellor George Osborne’s increase in tax on B2 Gaming Machines to 25% could see 30 per cent of the country’s betting shops in jeopardy. The organisation said in a statement: “The impact of the new Machine Games Duty (MGD) which came into effect last year and cost the industry an extra £50 …
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Barney Horn, indirect tax partner in the Deloitte betting and gaming group, has said that the Treasury has made gambling taxation more complicated than ever despite a trend for simplification. He explained: “Overall, while there has been much talk of simplifying taxes, the position has become increasingly complex with rates for seemingly similar gambling experiences being taxed at different rates. …
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The Remote Gambling Association (RGA) has restated its view that (i) a rate of 15% for the new point of consumption tax is too high; and (ii) the regime still does not appear to make allowances for bonuses and incentives. This heightens the risk that British licensees will lose significant market share to black market operators and that this will …
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In an unexpected blow for the bookmaking sector, Chancellor George Osborne has announced that the Machine Games Duty tax rate for B2 gaming machines is to increase to 25% from 20%. In the budget statement, Osbourne said: “The Department of Culture, Media and Sport has a review underway to consider the regulation of Category B2 gaming machines (also known as …
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The Rank Group has committed to a programme of investment and job creation in its bingo clubs as a consequence of today’s Budget announcement that bingo duty would be reduced from 20% to 10%. The duty reduction brings the taxation of bingo into line with most forms of gambling in Great Britain, including sports betting, football pools and online gambling …
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Dr Peter Chadha, Managing Partner of E-gamingexperts.com, and CEO of DrPete Inc – has been an advisor on technology to some of the largest e-gaming companies in the world. Through working closely with board directors and senior management during M&As and IPOs, he has experienced close hand the challenges stakeholders face, and reflects upon what is needed to survive. The …
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A Belfast High Court judge has rejected all aspects of an appeal from Ladbrokes against a decision of the NI Planning Service to grant planning permission for the extension of two local independent bookmakers outlets in the city. Sean Graham and Toal’s bookmakers were granted planning approval to extend their outlets in Castle Street and High Street respectively. Ladbrooke’s parent …
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