UK Betting Tax Revenue Falls 8% This Year

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UK Betting Tax Revenue Dropped 8% This Year
Photo: Suno Research

The Her Majesty Revenue and Customs (HMRC) recorded an 8% reduction in the UK gambling and gambling tax for the current financial year, with revenue affected by the new coronavirus pandemic.

The HMRC has so far received € 1.34 billion for the fiscal year of gambling and gaming revenues in the country, with 32% coming directly from the Remote Gaming Duty (RGD). This represents an increase of 30% over the previous year.

In addition, a 3% decrease in General Betting Duty (GBD), reaching 265 million euros, indicating that the cancellation of live sporting events in mid-March led to a reduction in these revenues.

UK gaming market values

As a result, the UK’s Addiction and Treatment analysis (UKAT) showed in July that only £ 80 million GBD was generated, almost half the same period last year, while September 30 betting proceeds of £ 30 million were lower than in the previous two financial years.

Total machine games for the current year are £ 147 million, down 46% compared to last year and the lowest amount since the launch in April 2013. While the closure of bingo sites has led to a 73% decrease in tax revenue by £ 4 million.

UKAT director Nuno Albuquerque said: “The numbers in the report were, in general, not surprising and expected. It is clear that the revenue from gaming machines and bingo machines suffered a heavier blow, as the places where people would have been involved with this type of activity were forced to close ”.

Albuquerque added: “People are going to deal with the new coronavirus crisis in different ways. It is important to remember that excessive decision-making can be harmful, especially if it starts to have a negative impact on your daily life ”.