IPepper news
  1. Main
  2. /

    News
  3. /

    Legal
  4. /

    UK government ...
  5. /...
UK government begins discussing RET gambling tax

UK government begins discussing RET gambling tax

The UK government has begun discussing plans to introduce a mandatory gambling tax to raise additional funds for research, education, and treatment of gambling-related problems (RET). The tax, proposed as part of the Gambling Act, is expected to generate around £100 million (about €115.5 million or $121.7 million) annually.

Gambling operators licensed by the Gambling Commission will be required to pay this tax to ensure a fairer distribution of compulsory contributions. Currently, the system on a voluntary basis allows operators to contribute amounts as they see fit.Under the new tax, online gambling operators will pay 1% of their gross gambling revenue, while traditional betting shops and casinos will pay around 0.4%.

The consultation process has already begun and will run until December 14. Culture Minister Lucy Fraser said the new tax would help protect people at risk of gambling-related problems and provide funding for treatment and research.

Legal

Other news
Gambling adverts during football matches triple in UK

29 September 2024, 16:17

Merkur Group founder to step down as chairman after 67 years at the helm

29 September 2024, 09:22

Dutch players demand bookmakers refund their money

28 September 2024, 15:14

Flutter Enters Top 3 Largest Bookmakers in Brazil

28 September 2024, 10:08

DraftKings to Pay $200,000 Fine Over Social Media Post

27 September 2024, 15:41

Star Entertainment Group Reports Financial Downturn

27 September 2024, 10:54

Norfolk casino project approved by Architectural Review Board

26 September 2024, 14:37

Flutter Entertainment aims to triple profits

26 September 2024, 09:19

Five social casino ads banned in UK

25 September 2024, 10:27

Brazil's WA.Technology Acquires Onseo

24 September 2024, 17:24

ESPN Bet Could Launch in New York by Weekend

24 September 2024, 08:30

EveryMatrix Appoints Former Entain Employee as Product Director

23 September 2024, 17:03

US reports growing gambling industry revenues for the month
US reports growing gambling industry revenues for the month

The American Gaming Association (AGA) has published its revenue report for July, revealing that the industry generated a record $5.7 billion during this period. Additionally, ...

Prominent Casino Player to Host Show with SportsGrid
Prominent Casino Player to Host Show with SportsGrid

Renowned casino influencer and YouTuber Brian Christopher is collaborating with SportsGrid, the first 24/7 sports betting network in the U.S. that offers a wide range of ...

One of Germany's states has been given the green light for online casinos and poker
One of Germany's states has been given the green light for online casinos and poker

Schleswig-Holstein has become the first German state to grant licences to commercial operators for offering online casino and table games. Tipico, BluBet, Cashpoint, and Skill ...

Articles
Why will the Snaitech deal double Flutter's market share in Italy?
Why will the Snaitech deal double Flutter's market share in Italy?

Analysts have welcomed Flutter's acquisition of Italian B2C business Snaitech for €2.3 billion, which took place in mid-September. Flutter can now double its market share in ...

Hiring Talent from Different Industries: Why and How?
Hiring Talent from Different Industries: Why and How?

At Pepper Partners, a leading iGaming CPA network, the team consists of professionals from various industries. For instance, our Chief Commercial Officer (CCO) joined us from ...

The Social Casino Phenomenon: Real Money and Databases for Bookmakers
The Social Casino Phenomenon: Real Money and Databases for Bookmakers

In the gambling industry, the Free to Play model is not dependent on turning players into gamblers for profitability, according to a columnist for the specialised publication ...

Dividing the Peruvian Pie: Who Will Take Over the Market After the Regulatory Law?
Dividing the Peruvian Pie: Who Will Take Over the Market After the Regulatory Law?

Gonzalo Perez, the CEO of Peruvian powerhouse Apuesta Total, believes that the new regulated online market in Peru will likely see dominance from just three or four major ...

Expert Opinion: Why Betting Can't Survive Without AI Analysis of Sports Data
Expert Opinion: Why Betting Can't Survive Without AI Analysis of Sports Data

In his opinion column, IGB expert Tom Waterhouse explores the significance of sports data analytics and data providers within the evolving landscape of sports betting. He ...

Categories