New taxes to shake the Irish betting market

11 Oct 2018

ireland betting sportsbooksBig changes are about to take place at the betting industry in Ireland and this time it will not be for the best for the operators. It is not a coincidence the fact the bookmakers themselves call this new situation a tax apocalypse. The new tax regulations refer that the operators will have to pay a 2 percent of their turnover, instead of the 1 percent that was the bookies’ duty until now! The difference may look slight but when it comes to a low-profit business such as sports betting, this may be a devastating blow to the Irish betting market.

The 1% tax was introduced for the first time in 1999 and had devastating consequences since almost 2.500 betting shops had to close down! Most of the bookmakers are afraid of what this huge change may mean for their operations, but considering that an Irish Bookmakers Association Spokeswoman told these new taxes are a kind of a doomsday for the industry. «The entire sector is devastated, we’ve lost 450 shops in the last eight years, and now as it had just started to stabilize, this change to double the tax will wipe them out…This is going to kill the industry, for a different type of service a localized service, they’ve just made it extinct”. Most of the operators are ready to take actions in order to prevent the new taxes before they go into effect at the first stages of the upcoming year.

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

After a week off due to national team fixtures the English Premier League returns to action, and what a better way to do start matchday 9 than with th...

Read more »

Gambling can be traced in Germany all the way back to Roman times when soldiers were playing several forms of dice games. At some point after the intr...

Read more »

The UK Gambling Commission fined online betting operator Betway £408,915 for marketing on the kids’ section of the West Ham United Football Club...

Read more »

The 2021 report from the Malta Gaming Authority (MGA) has been released. The MGA generally took less regulatory actions, such as issuing fewer warning...

Read more »

The 2022 European Cricket Championships, held in Malaga, Spain, now have Stake.com as an official partner. The T10 competition, in which 21 national t...

Read more »

Just one week after an impressive 49-goal matchday 1, UEFA Champions League action is back. Among all the exciting events, the one that stands out the...

Read more »

LeoVegas Group, the renowned igaming operator, disclosed on Thursday that English Premier League giants Manchester City is the subject of a new partne...

Read more »

The moment football fans worldwide have been waiting for has finally come. The 2022-23 UEFA Champions League season is officially underway with 8 matc...

Read more »

After expanding into Colorado, their second active US state so far, Bet365‘s presence in the North American market has grown. Bettors in the Cen...

Read more »

The 2022 summer transfer window ends on the night of September 1st. As the deadline day is rapidly coming close, top European clubs are looking to sea...

Read more »

LATEST BOOKMAKER PROMOTIONS