Galway bookmakers will be forced to close following the 'irrational and disastrous' decision to double the rate of Betting Duty from one per cent to two per cent in last week's budget.

That's according to the Irish Bookmakers Association (IBA), which said the move would immediately force the closure of sole trader bookmakers and make it extremely difficult for small companies to survive. It has called on the Minister for Finance to reverse the decision.

Since 1999, bookmakers' share of the Irish gambling market has fallen from 91 per cent to about 50 per cent, according to the organisation.

By contrast, an analysis of Paddy Power's most recent financial data shows that 53 per cent of its operating profit comes from non-retail sources like online and telephone gambling - with no contribution to the State. The recent budget will further accelerate this loss of revenue, the organisation claims.

Irish Bookmakers Association Chairperson Sharon Byrne said, "The IBA is fully committed to the national economy and the support of the Horse and Greyhound Racing Fund, but increasing an already unfair tax, which will drive small operators out of business, is not the way to achieve these objectives.

"We have proposed a number of measures including the capture of online gambling revenues and the introduction of modern technologies to allow independent bookmakers to compete on a level playing field."

The IBA is seeking an urgent meeting with the Minister to discuss the matter.

Comments (0) »

Show/Hide comment form

Name

Email

Title

Comment

Write the displayed characters

Add Comment