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Budget 2009: Gambling Tax

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  • 14-10-2008 4:25pm
    #1
    Bluetonic
    Registered Users Posts: 7,588 ✭✭✭


    Gambling tax up 100% from 1% to 2%.

    You'd have to imagine the bookies will have a serious think about passing it on to the consumer once again.


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    #2
    kryogen
    Closed Accounts Posts: 25,953 ✭✭✭✭kryogen


    this is gonna effect me big time!


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    #3
    cson
    Registered Users Posts: 14,454 ✭✭✭✭cson


    Afaik the reason why it was 1% is that there was a sort of non-official agreement that the bookies would shoulder it.


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    #4
    kenco
    Registered Users Posts: 1,080 ✭✭✭kenco


    Ivan Yates was on Hooks radio show and was losing the head big time on this. He reckons that lots of small shops will go to the wall as they cant possibly sholder the increase (they did so far even though they didnt have to). He thinks this plays into the hands of the internet bookies and will effectively finish off the local shops.


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    #5
    bookiebasher
    Closed Accounts Posts: 331 ✭✭bookiebasher


    I agree this is a disaster....Betting tax doubled..petrol up 8 cent a litre so dearer to get to work and also a levy on my wages of 1% plus funding for greyhounds and horse boards down 9.5%...mmmmm and the boys at Coolmore still pay no tax on their multi million breeding operation...Not very fair i reckon


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    #6
    Dodge
    Registered Users Posts: 10,274 ✭✭✭✭Dodge


    The funding cut to horses and greyhounds is right, they always got way, way more than other sports.

    As above small shops will have to pass this on. Internet bookies win


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    #7
    bookiebasher
    Closed Accounts Posts: 331 ✭✭bookiebasher


    the industry employs way more people than any other sport...if im wrong name a sport in ireland that employs more???????


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    #8
    Dodge
    Registered Users Posts: 10,274 ✭✭✭✭Dodge


    bookiebasher wrote: »
    the industry employs way more people than any other sport...if im wrong name a sport in ireland that employs more???????

    Name any industry that got as many tax breaks and government investment?


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    #9
    bookiebasher
    Closed Accounts Posts: 331 ✭✭bookiebasher


    Intel ...


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    #10
    Trampas
    Registered Users Posts: 7,637 ✭✭✭Trampas


    didn't even know there was a tax on betting.

    i do all mine online and will be always like that


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    #11
    kryogen
    Closed Accounts Posts: 25,953 ✭✭✭✭kryogen


    there used to be a tax the punter would pay, then the bookies unofficially agreed to pay it as long as it didnt increase. now it has its gonna kill alot of smaller bookies, probably incliding my prospective business


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    #12
    Dodge
    Registered Users Posts: 10,274 ✭✭✭✭Dodge


    Wasn't tha long ago it was 10% and no bookies would absorb it.


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    #13
    bookiebasher
    Closed Accounts Posts: 331 ✭✭bookiebasher


    20% not 10


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    #14
    prendy
    Closed Accounts Posts: 1,321 ✭✭✭prendy


    im showing my age but i only ever remember the 5% tax! ah bless!:D


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    #15
    scheister
    Registered Users Posts: 1,309 ✭✭✭scheister


    i have no memory of it being higher then 10%. punter used to have the choice of paying on the stake or paying a higher figuring on the winnings. i wud see most bookies still taking this as the figure is only worth 40m to the goverment some small bookies will suffer but the like of boyle's and paddy power will have no problem absorbing it. its only on over the counter bets any way


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    #16
    Bluetonic
    Registered Users Posts: 7,588 ✭✭✭Bluetonic


    The tax increase has been scraped as per the just announced Finance Bill.

    Another back down.


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    #17
    bookiebasher
    Closed Accounts Posts: 331 ✭✭bookiebasher


    i heard it has just been postponed until may???


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    #18
    cson
    Registered Users Posts: 14,454 ✭✭✭✭cson


    Bluetonic wrote: »
    The tax increase has been scraped as per the just announced Finance Bill.

    Another back down.

    To be honest it was a stupid increase anyway because;

    1. It was only going to yield another €40 million
    2. It was going to put a lot of smaller independents out of business, who are SMEs which are the lifeblood of this country
    3. With the way gambling has gone the tax would have been an irrelevance. Most web betting sites are stationed in tax havens where no betting tax would have been paid

    This tax increase along with Paddy Powers predatory tactic of guaranteeing prices would have put an awful lot of independent bookmakers out of business.

    If the Government really wanted to make something out of the racing industry they should have looked at taxing stallion fees. That would have yielded a hell of a lot more than €40 million.


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