In the days of turnover tax, bookmakers passed it on and punters either paid 9% (or even 10%) tax on returns or avoided that by paying the tax on the initial stake.

Betting exchanges have thankfully never had to operate under a turnover-based system in the UK but, if they did, and Betfair was taxed on the turnover on its site, and not it's gross commission levels, I could see the commission rates here going through the roof.

Same principle if there was a turnover-based Levy.

This, to me, is a bigger threat to punters than affordability checks or anything else that's looming in this sphere.

Yes worked in past under different circumstances.

Big bookies would doubtless manage too
if it was brought in, by passing on
costs to punters in poorer prices, which
they could easily do if exchanges went, or became
bookies money only.

I think bookies would ultimately fail if the exchanges completely collapsed personally - you can't rewind the history of the betting industry IMO. Not enough generation of business left without the exchanges IMO.

Though casinos might still exist (i.e. ex-bookies).

Industry would function better for
big bookies, that wine and dine mps of
all parties, if them pesky exchanges
with their 101% books disappeared

Punters are not going to put up with paying 10% tax again or anything like it. And shortening their prices instead won't work either.

Oh, and of course the racing industry then also closes...yep good job.

screaming from beneaththewaves • July 26, 2023 5:57 PM BST
How the hell did dave90210 manage to divert this into people arguing about affordability checks

prick

Given that, I think it's fair to say, everyone on this thread has a common vested interest in the current method of taxation/Levy remaining unchanged, being offensive to one another, or even acting patronisingly as we're more knowledgeable or intelligent than others, isn't particularly helpful.

If we all go our own individual ways we may all go the same way in the end.

I'm as cynical about consultation processes as anyone, but participating is a free bet so I hope as many here as possible have their say.

As long as racing income is directly depending on bookmaker profits it's always going to be sport that's high on quantity and low on quality. So I don't see GPT as the answer unless racing can do a lot more to stand on its own two feet.

We are the consumers. It is up to business to get their product correct. They have to do the fighting or they are out of business. It might be a case of "worse is better " what with the nanny state spending checks on top.