HRI suggests tax increase for horse racing in Ireland

5 Aug 2017

tax horse racingHorse Racing Ireland (HRI), Ireland’s horse racing governing body, submitted a petition to the Department of Finance, for a 1.5% tax increase on the betting sector.

Currently the rate of duty for the bookmakers’ sales is 1% with HRI demanding a rise up to 2.5%.

As expected, betting sites in Ireland have already voiced their disagreement with the upcoming revision in the legislation.

On the other hand, the President of HRI, Brian Kavanagh told that this change on the tax would be beneficial for the general public. He stated that although betting turnover in 2016 was over €5bn, only €51m was collected in duty. This amount is technically five times lower than the 2001 turnover, which was €1.1bn with €68m having been collected through the tax.

He added to this: “While the betting market has increased almost five times between 2001 and 2016, the yield to the exchequer from duty has actually fallen”.

Mr Kavanagh also recommended that the commission on gross gaming profits should be increased from 15% to 37.5%.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

The Gaming Control Authority, a part of the Ministry of Finance of Lithuania, announced that it issued a warning to every sports betting company opera...

Read more »

The English football club, Queens Park Rangers (QPR) made a new agreement for a sponsorship with Gamstop. From now on QPR will dedicate matchday and p...

Read more »

According to data from the regulatory authority of France L’Autorité Nationale des Jeux (ANJ) the online sports betting sector in the country made a r...

Read more »

The Commission on the Regulation of Gambling and Lotteries (KRAIL) in Ukraine announced a new policy regarding unlicensed online operators that exist ...

Read more »

Spelinspektionen, the Swedish gambling authority, announced several changes to its licensing requirements to protect every player in a more efficient ...

Read more »

The renowned bookmaker Betfred announced that it has agreed for a two-year extension to its sponsorship with Super League Europe, the top-flight leagu...

Read more »

A few weeks after Anthony Joshua’s loss against Oleksandr Usyk in a heavyweight championship fight, we’ll be seeing a potentially even bigger heavywei...

Read more »

The Netherlands as of today, October 1, 2021 has officially opened its regulated online gambling market, allowing local players to place legal online ...

Read more »

Betsson AB board has announced that it has begun a quest to find a replacement for Group Chief Executive Pontus Lindwall. Since the program “Back on T...

Read more »

1xBet, has announced an agreement for one year with its first ambassador in India – the renowned cricketer Dwayne Bravo. The athlete is known fo...

Read more »

LIST OF TOP BOOKMAKERS
22bet
  • 1.000+ live events daily
  • 95% payout on top leagues
  • Cashout
100% up to €122
1xBet
  • More than 50 sports
  • 60,000+ events monthly
  • Live Streaming
  • Code:BOOKSPY
100% up to $130
Sportaza
  • Few country restrictions
  • 35+ sports
  • High odds on secondary bets
  • Code:BOOKMAKERSBET
100% up to $100
20Bet
  • More than 1,000 live events/day
  • 150+ markets in football
  • 40,000+ events/month
100% up to €100
CyberBet
  • More than 15 sports
  • Alternative handicaps in basketball
  • 30+ live tennis markets
  • Code:BOOKBET
100% up to $300
Anonymbet
  • Few country restrictions
  • 30+ sports
  • Asian Handicaps
  • Code:bookmakers
120% up to $100
Wazamba Sports
  • Few Country Restrictions
  • 35+ sports
  • Card & Corner Bets
100% up to $100
Zodiacbet
  • 30+ sports
  • Asian Handicaps
  • Card and Corner bets
  • Code:ZB100S
100% up to €100
LeoVegas Sports
  • High average payout of 95% +
  • Best odds guaranteed on UK & Irish horse races
  • Live streaming feature
High Odds
Mr Sloty Sports
  • Few country restrictions
  • 30+ sports
  • Multiview Feature
  • Code:WSPORT501
50% up to $100
Royal Oak Sports
  • Few country restrictions
  • 30+ sports
  • Asian Handicaps
  • Code:WELCOMESPORTS
100% up to $100
Mystake
  • Few country restrictions
  • 1,000+ pre match events daily
  • 400+ football markets
100% up to $500
Lapilanders
  • Few country Restrictions
  • 1,000+ live events daily
  • 35+ sports
100% up to $120
Librabet
  • 35+ sports
  • Cards & Corners
  • 20+ Payment Options
100% up to €250
Powbet
  • 30,000+ events every month
  • More than 35 sports
  • Card & Corner bets
100% up to $100
LATEST BOOKMAKER PROMOTIONS