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How a vague threat has been turned into an alarming reality for British racing
The idea that the level of general betting duty (GBD) could be raised – with all the potential damage that could cause for racing – is not a new one, but the consultation launched by the Treasury last week suddenly makes a vague threat much more of a reality.
The consultation titled 'The Tax Treatment of Remote Gambling' contains proposals to move to a single tax for remote gambling called remote betting & gaming duty (RBGD), replacing the current three-tax structure of GBD, pool betting duty (PBD) and remote gaming duty (RGD) – the latter covering products such as online casino and bingo.
The major cause for concern for racing is that GBD, which also covers pool betting on horses, is levied at a rate of 15 per cent, while the rate for RGD is 21 per cent.
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Published on inOn The Money
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