The UK’s Chancellor of the Exchequer has announced a rise in British online betting tax to 21% in October 2019 to offset the loss expected from the cut in maximum stakes on fixed-odds betting terminals (FOBTs).
Delivering the Budget for the year ahead, Philip Hammond spoke in parliament and said the tax will increase from 15%.
He said: “I can confirm that we will increase Remote Gaming Duty on online games of chance, to 21% in order to fund the loss of revenue as we reduce FOBT stakes to £2.”
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