"The Treasury Committee said the government should tax online betting games "at a rate that reflects the level of harm they inflict". Earlier this year, Chancellor Rachel Reeves suggested taxes on betting firms could be raised in the Budget. Online gambling and gaming now accounts for nearly half of the industry's takings. Bookmakers have argued that increasing taxes could lead to the closure of hundreds of betting shops and the loss of thousands of jobs."
"MPs heard that online betting can promote harmful, addictive gambling behaviours "that bring no benefits to people, families and communities". Chair of the committee Dame Meg Hillier, said online betting games were "extracting huge amounts of money from people who have been funnelled into the most addictive, harmful corners of the industry via their love of sports, or the occasional game of bingo"."
The Treasury Committee recommends taxing online betting games at rates proportional to the harm they cause. Online gambling and gaming now account for nearly half of the industry's takings, prompting consideration of higher taxes in the Budget. The committee rejects the claim that gambling causes no social ills and warns that online betting can promote harmful, addictive behaviours that bring no benefits to people, families and communities. The gambling industry points to low measured problem-gambler prevalence, substantial economic contributions, tax revenues and jobs. Current UK arrangements exempt punters' winnings and VAT on bets while imposing duties on online casinos, slots, sports and horseracing.
Read at www.bbc.com
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