New 1% Betting Tax to be introduced

Nowso

'After a very long and drawn out battle a New Betting tax is to be introduced shortly in Ireland to include online and telephone betting. Traditionally the betting duty in Ireland is 1% and is paid only by those Irish customers that place their bets through the betting shops. Therefore, those Irish customers who were betting with offshore entities, either online or through the telephone were exempted from paying any betting duty.

Shortly the Minister of Finance will announce a new 1% tax on all online and telephone betting in Ireland, with strong consideration for anther increase to 2% in the near future.

It had always been assumed that additional revenue from the new tax will be ring-fenced for the racing industry, but it appears this is not guaranteed. Other sports bodies argue that the evolution of betting over the last decade which has included significant migration away from gambling on horses and greyhounds means that the money raised should be spread around.'

It would be a great boost - as long as they don't just pour it into the Black Hole of Limerick!