Tax rules boost online betting

Article Abstract:

High tax levels for gambling in Britain has led to increased demand for online and offshore betting services. The industry is calling on the government to reduce tax rates, and the government may change the system and tax profits rather than taxing bets. Racecourse owners are likely to seek a bigger share of profits for media rights when contracts for showing races in betting shops are reviewed in 2001. Live races could be shown to internet viewers.

United Kingdom, Internet

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Take a punt

Article Abstract:

The development of the online gaming industry is examined in detail, including assessments of companies operating in this sector.

On-Line Information Services, Videotex & Teletext, Telegraph & other communications, Industry Overview, Online services, Internet services

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Large UK bookmakers seek out less taxing climates offshore

Article Abstract:

Enic is to acquire Victor Chandler for 70 million pounds sterling. Victor Chandler is a bookmaker which has relocated its telephone betting operations to Gibraltar, which reduces the amount of tax on gambling to 3% compared to 9% for the UK. The main three UK gambling companies, William Hill, Coral amd Ladbroke, are seeking a reduction in betting duty in the UK. Victor Chandler plans to launch an on-line betting service from Gibraltar in Nov 1999, and holds a license for on-line betting in ALdernay through International Sports Betting, a subsidiary.

Mergers, acquisitions and divestments, Enic, Victor Chandler Ltd.

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