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U.K. Wants to Raise Online Gaming Tax in 2019

online gaming tax uk While the U.K. government has stated that it needs to have the POC tax in order to level the playing field for all gaming companies, some online gaming companies have complained that the tax is causing them to raise their prices for items and raise their comp limits, which also lowers their profits. Despite the backlash, POC taxes are in the process of being implemented or have already been implemented in many states in Australia . The British government has been criticized for the timing of the POC increase. Critics have complained that the only reason the United Kingdom has raised the POC taxes is because the Treasury was worried a loss in revenue would affect the budget, and its research indicated that lowering the betting limits on FOBT machines meant lower revenue. Moving the FOBT rate to a $5 maximum bet from a $132 maximum bet represents a large gap in funding. In addition to the Treasury’s concerns about the drop in revenue, gaming companies also argued they were being hit twice, once by a possible reduction in revenue from the FOBT machines and from an increase in the POC tax. There is no timeline for either the POC tax increase or the FOBT decrease. The Treasury has stated it will to try to implement the POC tax increase by the spring of 2019 and it wants to move the FOBT decrease to April 2020. Economic researchers have said part of the reason for the extended rollout is because the government wants to slow down the impact to the gambling industry, so workers don’t lose their jobs and betting shops don’t have to close.

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William Hill posts loss, announced US sports book deals

william hill In the US, we have moved quickly following the repeal of PASPA as we grow into newly regulating states. We will continue to invest in the US to ensure we are well placed to capture the substantial potential available to us. “Fundamental to delivering over the long term will be our sustainability strategy, which marks a significant cultural change for the company. Gambling-related harm is a serious issue and it is important that we face up to this challenge. We have set ourselves the ambition that nobody is harmed by gambling and set out a detailed programme of actions as we start out on this journey.” said Philip Bowcock , Chief Executive Officer of William Hill.

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