The misleading headline of ‘Lowest betting tax rate in the world’ has been used heavily in the lead up to this years budget. It is deliberately misrepresentative of the penal tax paid by Irish bookmakers for many years. The Irish betting shop model is entirely different from anywhere else in the world.
We have prepared a calculation which shows that an average Independent betting shop pays 6 times their profit in taxes. Tax on bookmakers at Irish tracks has reduced by 50% this year with a provision to reduce even further, yet there are calls to increase the tax in betting shops to further finance racing? With over 450 closures and 2500 job losses since 2008, an increase in betting tax would only serve to cause more closures and job losses.