Meaning shops must close their doors and customers must place their bets with online or mobile operators, who do not pay betting duty or provide jobs in every community or village in the country
The Betting Bill is due to be heard by the Finance, Public Expenditure and Reform committee since February. With Summer recess approaching rapidly, the window for completion of Bill is getting very small. The IBA have launched a major political campaign to get the bill enacted before Summer recess. The bill passed through the Dail with relative ease. Several speakers in the dail remarked on how low the betting tax was. However, the Irish Bookmakers Association will now work to inform interested parties about the significance of a Turnover tax on the industry.
A turnover tax taxes Turnover and not profit. Taxing turnover is particularly penal when it is a high turnover and low margin business like ours. There are several references to other betting tax rates in Europe, but the point that is not made about any of these is that some are state owned and have a monopoly, others have Fobt's which gives a total different business model to that of an Irish betting shop. Our sector must be taxed on profit to allow to compete on a level playing field and continue to provide much needed taxation and jobs. Click here to download our Betting Amendment bill briefing document
Our members welcome the publication of the long awaited Gambling Bill
"Gambling Control Bill 2013"
The Gambling Control act was published on July 15th 2013. It is to repeal the 1931 Betting act, and 1956 Gaming and Lotteries Act. It is combining both of these acts in the new Gambling Control Act to regulate the entire gambling industry in Ireland. A lot of work has been done by the department on creating a bill to regulate the entire sector, and we look forward to working with them on its implementation
The bill failed to make the Dail calender for hearing in 2014, pushing it out to 2015. With the election looming in 2016 the chances of such a broad and possibly controversial bill taking up so much time is low.
Read more about the Gambling bill which will regulate the entire industry ranging from betting shops, arcades, and casinos to online betting sites and exchanges. Click here.....