|
Irish government has approved betting bill amendments, under which online sports betting will be taxed for the first time. Traditional bookies will pay 1 percent of turnover while betting exchanges like Betfair will pay 15 percent of betting profits. The changes will apply to all Irish-facing operators.
The latest version of the bill was introduced last summer and passed the second stage in January. Finance Minister Michael Noonan announced on Tuesday that he had secured Cabinet approval for an amendment that would empower Revenue to collect taxes from licensed online operators and deal harshly with any operator not having an Irish license.
Ireland is still working on establishing a dedicated gambling regulator. Currently the Justice Minister is responsible for policing unlicensed remote operators, but Revenue would assume this role under the new amendment. The bill has suggested enforcement measures that could include payment and IP blocking of unauthorized betting sites. Additinally, the bill would introduce prohibitions on promoting their wares to Irish punters via advertising or sponsorships.
Meanwhile, Ireland’s land-based bookmakers’ pleas for government to get the lead out have not been considerd. Under the existing law, dating back to 1931, betting shops are required to close by 6:30 PM for six months at a stretch and the latest dark period takes effect on September 1. The Bill would curtail this seasonal curfew, which according to bookmakers results in a net €23.3m cost to the state via lost taxes and increased welfare payments to laid-off shop employees. But with Irish legislators due to take their summer break in July, bookmakers have to prepare for yet another winter of discontent.
|
|
|||||
|
||||||
Irish government approves betting bill amendments
Friday, 27 June 2023 10:19
Share this post
Published in
Legislation & Market
Tagged under
You are here:
