Taxation on gambling to raise £1.1 billion>>>>>>
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Or do nothing and be surprised when it results in an expensive court case in about 2030 to resolve the issue.
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laddies will be resolving the issue ....by 2030...TONIGHT.
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Well done horse racing on "dodging a bullet", as the Racing Post say and putting their case forward. BUT I wonder if it is morally right that a major sport (which I love) is apparently so reliant on bookmakers and therefore losing punters for its continued existence? I watch racing from abroad and wonder why do we bother with bookies. But I am a small time but regular punter not looking for any great value, just betting for fun. Just a thought.
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I spent about £2k on golf last year and didn't even buy any new clubs. People pay for entertainment. Betting on horses isn't any different.
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I'm siding with the posters suggesting (cautiously) this could be a good thing for us exchange users....
There could be a couple of factors - bookies in decline could push more exchange use, racing being relatively protected. But ultimately I will just wait and see - trying to guess is pointless really, as we won't be able to stop any changes either way. |
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It also often takes ages for any concrete changes (e.g. commission choices etc) to emerge, as all companies will also be taking their time to consider things over I reckon.
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Combination of minimu wage increase, and the 40% rates relief for racing yards being abolished, is a possible source major concern for small to medium sized yards.
Easy to say racing has faired well but it doesn't apply to everyone. Then again, if there are less horses entering the market (in particular NH types) there might not be a need for all the yards. Sport becomes even more elitist. |
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If the online presence was subsisiding the bricks and mortar presence, and on the horizon comes a big hit for the remote gambling (crack-cocaine) money trees, surely its of portentous significance for the High street.
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flutter +2.51%
entain +4.97% |
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today's trading doesn't count does it, as the worst was priced in
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Share price rises reflect relief not optimism. Not putting up the tax on in shop slot machines must be a huge relief for the big shop chains but don't affect Flutter so much. It must horrify those who worry about gambling addiction. I only bet on Betfair Exchange so I await what changes take place there.
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easy 4.97% return on your money for 1 day then cider.
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I'm not really a day trader, certainly not second guessing the budget :)
in theory at least, the trading of equities is based on future expectation. so for example, the market expects the BoE to chip 25 points off the base rate next month. so shares that are based on yield and sensitive to sonia will have aligned with that expectation. If it cuts 0.25 then the prices won't move much, if it cuts 0.50 then they should spike. With these firms, the news probably wasn't worst case scenario but I'd say they are still likely to be significantly down if zooming out. |
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horses have always been elitist....
reckon be not many of us than can afford to run a horse ,etc etc... never mind racing fees, think about a horse for one of ye kids, cost a feckinfortune... wareas footy is accesible to all... |
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Had to laugh at Skeltons joke yesterday - running Laffer Curve on budget day. Needless to say it lost.
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Entain and flutter shares are up because they have so much money, no impact from a budget would ever touch them. A few billion to flutter is like £100 to us
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That may be what you think Trident but the bottom line for Racing is that Sponsorship and promotion of the sport from bookmakers is going to nosedive as their first response to mitigate their reduced profits, Betgoodwin (small admittedly) have already announced they are ending their sposorship.
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Don't you wish that Racing still controlled the Tote or a similar system? Bookmakers will stop sponsoring or promoting racing and concentrate on Football and other betting media.
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Racing never controlled the Tote sage, it was owned by the Govt via a public charter before Betfred bought it, a fact that should have made the sale illegal.
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You seem to be missing the reality SS, the huge profits you refer to have come from the online casinos, that is why the bookies are not too concerned about Racing as a priority.
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In essence, bookmakers online profits have taken an 80% hit.
Assuming the online model gets 75% of its profit fom casino type games and 25% from horse (say 60% is that) and sports betting (the remaining 40%) then for every £100 profit: The original casino tax was £21, now going to be £40, the original horse and sports tax was £3.75, now going to be £4.75 (£2.25 + £2.50). So the online bookmakers tax bill goes up from £24.75 per £100 profit to £44.75 per £100 profit on my assumption of the 75-25 split (which may be well wide of the actuals). This is very bad news for sponsorship for a lot of sporting events. |
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oops, got me math wrong
 Assuming the online model gets 75% of its profit fom casino type games and 25% from horse (say 60% is that) and sports betting (the remaining 40%) then for every £100 total profit: The original casino tax was £15.75, now going to be £30, the original horse and sports tax was £3.75, now going to be £4.75 (£2.25 + £2.50). So the online bookmakers tax bill goes up from £19.50 per £100 total profit to £34.75 per £100 total profit on my assumption of the 75-25 split (which may be well wide of the actuals). No matter how its dressed up, this is very bad news for sponsorship for a lot of sporting events. |
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Bookies are more addicted to slots than the blokes you see rattling outside c0rals at 8:55am
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Online bookmaking must be profitable if startups are making millions in competition with the established operators. Will the startups be the first to leave the industry? So long as the exchange operates, I will be happy as I never use anything else. Turnover on exchanges does seem to be falling so how long will they last? No way will I ever go back to betting with 120% over rounds.
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And the reason to increase tax on bookmakers is to remove the 2 child cap.
I ask all working people is this fair: Mum of five to get £2,770 a month in benefits thanks to Labour's Budget https://www.msn.com/en-gb/health/other/mum-of-five-to-get-2-770-a-month-in-benefits-thanks-to-labour-s-budget/ar-AA1RhRDn?ocid=msedgntp&pc=ASTS&cvid=6929b5fa77634953a8dfaadc990652cd&ei=20 |
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The raising of the 2-child cap was solely to take more kids out of the poverty line. This is possibly an indicator to not punish the children for the injudicious decisions of the parents. What next a 3-child cap/
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How does racing think that this is a victory, the books are furious that racing went it alone, this notion that once things have died down racing and the books will be able to come together and the books will once agan embrace and promote racing is for the faries, if for no other reason than spite and wanting revenge the books are going to want to stick it to racing good and proper.
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The raising of the 2-child cap was solely to take more kids out of the poverty line. This is possibly an indicator to not punish the children for the injudicious decisions of the parents. What next a 3-child cap/
It's especially impressive when you consider that the government has taken measures to ensure the boon in handouts only go to benefit the extra children, and not the parent(s). Perhaps they might be forced to provide them with breakfast now, at least. |
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Some of these parents should provide receipts for every penny they spend, then we'll see how much the kids get.
My experience is: I see these parents (around my door) getting takeaways, having barbacues in the garden, smoking, drinking, getting tatoos and nails done, gemnerally everything bar spending money on the kids - they ase and still will be wasters and none of their kids will benefit. |
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her daughter in the picture has very few teeth so looks like sweets have been in good supply
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This was a political decision. The Labour Party without the support of the majority of the foreigners and state-spongers will be history. This latest budget to increase spending on welfare, but not on capital expenditure to increase gdp could be Ms Reeves's last, possibly Mr Shameless too.
And, I do not think they will be missed by Labour supporters or UK Plc. |