Irish Bookmakers Association Pushes Implementation of New Betting Act

The Irish Bookmakers Association is pressing the government to push through the Betting Amendment Bill as 500 jobs and Euro 16 million are at risk if something is not done. Chairperson Sharon Byrne expressed concern for the retail betting sector in a three page briefing document from the Association, which encompasses 70 percent of bookmakers across Ireland. “With 500 jobs being lost unnecessarily and antiquated legislation that continues to allow tax free betting, we hope time can be found to get the legislation through before summer recess,” Byrne said. The IBA believes that taxation reform is necessary requiring bookmakers to pay a one percent tax on turnover and approximately Euro 30 million toward Horse Racing Ireland for picture rights. “This tax is paid on Turnover and not profits, which means even if the bookmaker is losing money, he must pay this penal tax rate. No other form of gambling pays this duty, so online and mobile operators have a severe competitive advantage as a result,” according to a report.