Monthly Archives: October 2018

UK gov’t to hike online casino tax from 15% to 21% in October 2019

UK gambling operators will pay more tax on their online casino revenue starting next October, but the increase wasn’t as steep as some operators had feared.

On Monday, UK Chancellor Philip Hammond previewed his Autumn Budget 2018 for the House of Commons, which included hikes in online gambling taxes to offset the long-promised reduction in maximum wagers on the fixed-odds betting terminals (FOBT) in UK betting shops from £100 to just £2.

Hammond (pictured) said the Remote Gaming Duty (RGD), a tax applied to online casino revenue that’s different from the duty imposed on online sports betting, will rise from its current rate of 15% to 21% effective October 1, 2019.

The UK government had made clear its intentions to raise the RGD in order to offset the reduced tax revenue the government will reap via the FOBT stake cut. Hammond repeated this rationale in delivering Monday’s budget preview to parliament.

Singapore Pools taking over Turf Club’s race betting operations

Singapore’s state-run lottery and sports betting monopoly is adding horseracing to its offering, taking over from the local race betting monopoly.

On Monday, the Singapore Turf Club announced that Singapore Pools would be taking over its horse betting operations with effect from January 7, 2019. The Tote Board, which operates both betting portals, said the move was intended to “achieve synergies and improve cost efficiencies.”

Singapore Pools will assume control of the betting windows at the Singapore Racecourse, as well as its off track betting outlets and the iTote remote wagering operation. The iTote app will remain separate from Singapore Pools’ mobile app and the Tote Board assured customers that there will be no changes to customers’ ability to access all existing race betting channels.

Singapore Pools CEO Seah Chin Siong said the consolidation of betting activities would help maintain “the highest level of rigor and accountability in social safeguards and responsible gaming measures.”