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Ireland’s new betting tax could be a spoiler

Niji Ng

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Ireland’s new betting tax could be a spoiler
Photo Source: politicsblog.ac.uk
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The increase of betting tax from 1% to 2% in Ireland could turn out to be a spoiler for both gambling companies and government alike. It is quite obvious that tax rise would eat into the gambling companies’ profits. However, strangely, a new estimate reveals that the Exchequer of Ireland could also end up losing €35 million because of the hike.

This is because a number of smaller shops, especially those in small towns and villages, could be shut down because of the tax hike.

Anthony Foley, the emeritus associate professor of economics at DCU, explained that the implementation of the new betting tax doesn’t consider the possible negative effects on the existing tax take from the sector in such as income tax, USC and PRSI and increased expenditure from unemployment due to job losses.

He also considers that the increase happened without a detailed analysis of the possible negative economic effects on the commercial viability and sustainability of bookmakers, “unlike the Department of Finance’s analysis of the hospitality VAT increase.”

“Arising from Exchequer revenue reduction, due to loss of other taxes, job losses and possible closures, the Exchequer losses could be in excess of the gain from the 100% increase in betting tax for the retail sector, if shop closure rates are at the rate predicted by the industry,” he  concluded.

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Gambling in the USA

Delaware igaming industry performs well in January

Niji Ng

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Delaware igaming industry performs well in January
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The Delaware Lottery’s financial results have shown that igaming performed robustly on the financial front in January 2019, by posting a 57.9 per cent increase in revenues year-on-year.

Revenue rose to $279,541 (£217,970/€247,999), showing a 11.2 per cent month-on-month from December last year.

Players wagered $7.4m across the state’s three licensed igaming sites in January 2019, which represented a 65.5 per cent year-on-year advance, but a 27.7 per cent fall from the $10.3m staked in December 2018. Players won a total of $7.2m during the month.

Video lottery accounted for $190,223.44 of total monthly revenue, a 68.0 per cent share, followed by table games, which contributed a further $66,982.14. Poker rake and fees, on the other hand, contributed just $22,335.51.

Player registrations also grew significantly in January, up 117.3 per cent to 578.

The majority of revenue was generated by Dover Downs, which saw its more than double from $48,215.61 in the prior year to $139,816.37, with 233 players registering to play over the month.

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Industry News

Move to privatise Holland Casino extended

Niji Ng

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Move to privatise Holland Casino extended
Photo Source: hollandcasino.nl
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The move to privatise state-owned Holland Casino in the Netherlands has been postponed to 2020. The country’s justice minister Sander Dekker cancelled the vote for privatisation because of many objections that the measure suffered in the Senate.

The Financieele Dagblad said that senators are concerned about the fact that privatised casinos may encourage gambling and are worried about the way that the government was planning to proceed with the privatisation process, Dutch News informed.

The original plan included the selling of 10 of the 14 branches under the Holland Casino name, while the other four locations would be sold as a group. The cabinet from the Netherlands is also considering opening up the casino market to new providers and offer two licences.

Justice minister Dekker has until June to come up with a new proposal, present it to the senate and gain backing. “We may adapt the law, withdraw it altogether or go for a vote after all,” Dekker said in a note to senators.

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Industry News

888 appoints Andrew Anthony as Responsible Gaming Director puts responsible gambling at forefront with appointment

Niji Ng

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888 appoints Andrew Anthony as Responsible Gaming Director puts responsible gambling at forefront with appointment
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The Gibraltar based gaming solutions developer, 888 Holdings, has appointed Andrew Anthony as its Responsible Gaming Director. He will be overseeing the company’s player protection efforts through the improvement of responsible gaming operations, systems and processes.

He will report to Yaniv Schwartz, SVP Customer Risk Management, who said about the appointment: “During the course of his career at 888, Andrew has gained numerous insights into the behaviour of the Company’s player base.”

“In addition to this, he brings a wealth of quantitative experience and methodology to his new role heading up our Responsible Gaming team.

“888 strives to ensure that those for whom our games are not intended will not be drawn into the gaming environment and that those customers who develop a gambling problem are quickly identified and helped.

“I am looking forward to the successful delivery of the responsible gaming initiatives we have planned and continuing to drive Responsible Gaming culture throughout the organisation.”

Anthony said he is thrilled about the new role: “I am thrilled to take on this role which is at the centre of how 888 operates. In particular, I am looking forward to working together with my industry peers and stakeholders so we can share ideas and promote best practice initiatives.”

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