UK Bookmakers Threatened with Mandatory New Levy

UK Bookmakers Threatened with Mandatory New Levy

UK Shadow customs Secretary Harriet Harman, whom week that is last her plans for an additional levy on all kinds of recreations betting, online and off. (Image: theguardian.com)

The stock market had reacted defectively to news that great britain Labour Party is planning for a multimillion-pound levy on all sports betting, online and off, should it is elected in 2015. Ladbrokes plc dropped 3.16 percent, while William Hill plc fell 2.88 percent rigtht after the announcement by Labour’s Shadow customs Secretary Harriet Harman week that is last. The levy will be much like that currently applied to horseracing betting, the revenue from which, some £82 million ($139.314 million) in 2014, is ploughed back in the horseracing industry.

More Cash, More Sports

The scheme that is new section of Labour’s ‘More Sport for All’ incentive, which will understand extra revenue raised from sports wagering going primarily to the growth of grassroots activities, with some going to the remedy for problem gambling. Harman also said the introduction is being considered by her of a ‘proper levy’ on revenue derived by the Premier League through the purchase of soccer television legal rights, which will be allocated to developing grassroots football.

‘We were all proud to host the Olympics and Paralympic Games in London 2 yrs ago but rather of seeing increased involvement, things have got worse especially amongst young people as being a result of Continue reading “UK Bookmakers Threatened with Mandatory New Levy”