Monday 29 October 2018 5:14 pm

Online betting company duty to increase by six per cent


The levy applied to online betting companies will increase to 21 per cent as fixed odd betting machine stakes are reduced to £2. 

The remote gaming duty applied to "online games of chance" will be upped by six per cent from October next year, Chancellor Philip Hammond confirmed in the Autumn Budget today. 

"From remote gaming duty on online games of chance to 21 per cent in order to fund the loss of revenue as we reduce fixed odds betting terminal stakes to £2," Hammond said. 

The maximum amount gamblers can bet on the controversial machines will be cut from £100-per-spin to reduce the risk of gambling addiction.