Tag Archives: FOBT
UK – Rank and Betfred win landmark FOBT VAT case
UK betting groups Rank and Betfred have won a long-running battle against the UK tax authority concerning value-added tax on FOBTs. The tax tribunal led by Justice Anthony Mann and Judge Thomas Scott accepted Betfred’s claims that collecting VAT on FOBTs between 2005 and 2013 had breached the ‘EU test of fiscal neutrality.’ Betfred said:…
UK – William Hill confirms 700 LBO closures are on the horizon
William Hill has confirmed it has entered into a consultation process with retail colleagues over plans to close around 700 licensed betting offices. The group stated: “A large number of redundancies is anticipated with 4,500 colleagues at risk. The Group will look to apply voluntary redundancy and redeployment measures extensively and will be providing support…
UK – Two high street bookmakers remove products following warning
Products recently launched in high street bookmakers Paddy Power Betfair and BetFred have been pulled following a warning from the Gambling Commission and the operators could still now face regulatory action as the Commission continues to investigate. A third bookmaker who was poised to launch a new product, which has been reported in the media,…
UK – Regulator warns gambling industry not to circumvent FOBT stake cut
With the £2 stake limit on Fixed Odds Betting Terminals (B2 machines) comes into force today (Monday April 1), the Gambling Commission has written to bookmakers to remind them of their responsibilities in ensuring consumers are protected.  From Monday April 1, the maximum stake that can be offered on the gaming machines will drop from…
UK – Bacta meet with the Minister and explore industry road map
A senior Bacta delegation, comprising National President Gabi Stergides, President elect James Miller and CEO John White met last week with the Gambling Minister Mims Davies and her Civil Service advisers. The meeting, which took place on Wednesday 6 February, was held at Portcullis House and followed the Minister’s attendance at November’s Bacta Parliamentary Reception….
UK – Delays to new FOBT laws forces Sports Minister’s hand
Tracey Crouch has resigned from her position as Sports Minister over delays to the stake cut on Fixed Odds Betting Terminals. Chancellor Philip Hammond confirmed in his budget that the reduced stakes from £100 to £2 wouldn’t come into force until October 2019. Ms Crouch slammed some MPs as being ‘very interested in the bookmaking…
UK – UK bookies set for £1bn windfall as Betfred wins FOBT tax case
British bookmaker Betfred has won a court case against HM Revenue & Customs (HMRC) concerning the amount of tax it paid on its FOBTs which could see the industry as a whole be reimbursed around £1bn. The tax tribunal ruled that Betfred should not have paid VAT on its FOBts between 2005 and 2013 with…
UK – Bacta to voice members’ outrage over B2 delay at Treasury meeting
A senior delegation of Bacta figures comprising National President Gabi Stergides, Vice President James Miller and Chief Executive John White, will meet with officials from The Treasury next week to convey the industry’s outrage over the proposed delay in implementing the £2 stake on FOBTs and to outline the case for reducing MGD on SWP…
UK – Rise in online gaming tax to cover UK’s FOBT loss
The British treasury has confirmed that online gaming taxation will be increased next April to compensate for the loss of revenue from lower FOBT profits. The new maximum stakes of £2 on FOBTs will not be introduced until 2020, a move which is expected to generate £4bn for the industry. The Treasury stated: “In order…
