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Jenningsbet warns against ceasing donations due to tax implications

Bookmaker Jenningsbet claims that the UK government's plans to increase gambling taxes will make it more difficult for nonprofit organizations to carry out their missions.

A tax of up to 1% of the annual revenue from bets made by bookmakers was proposed by the government in October of last year. The money raised will go toward treating, preventing and conducting research on the negative effects of gaming. The shift from optional to required contributions may have an impact on independent bookmakers, as Jenningsbet explained. They will face disproportionately high taxes, which they may struggle to afford, ultimately leading to the closure of their businesses. This was a warning issued by Vicky Knight, the head of the company's responsible gaming division. Bookies will undoubtedly cease their charity endeavors even if the predictions prove to be inaccurate.

536 independent bookmakers remain in the UK today, according to Knight, and they collectively pay more than £25 million in taxes annually. Its net revenues, she continued, are insufficient for the corporations to meet the new standards.

23 January 2024, 12:26

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