UK Government Opens Consultations for Proposed Gambling Levy
LISTEN TO THIS ARTICLE:The United Kingdom (UK) Government has just launched an eight-week consultation period with gaming industry stakeholders on proposals for a statutory levy on gambling operators first raised in its Gambling White Paper in April this year.
The government says the purpose of the gambling levy is to provide funding for research, prevention, and treatment of those gamblers who are at risk from gambling-related harm.
Impact of the Proposed UK Gambling Levy
Under the terms of the gambling levy, all online gaming operators will pay a rate of 1% of their Gross Gambling Yield. This levy will be 0.4% for land-based casinos and betting shops.
The proposed levy will exclude social lotteries, something the Betting and Gaming Council (BGC) has raised objections to.
Related: BGC Worried Gaming Charities May Lose Funding from Levy
The United Kingdom Gambling Commission (UKGC) will oversee the implementation and administration of the new levy, which is due to come into effect in 2026/2027.
The UK government has urged all parties that have an interest in the proposed gambling levy to make a representation with their observations, which can be done by participating in an online government survey.
The government is consulting on proposals on the key aspects of the levy’s design, including its structure, distribution and governance. There are significant complexities around the transition to the new system and we want the best available evidence when finalizing policy decisions to ensure proportionate and effective action.
Following the Conclusion of the Consultation Period
Once the consultation period has been concluded, on the 14th of December 2023, the UK government will consider all submissions from stakeholders in the industry on the gambling levy.
The UK government then says it will proceed to produce a report before setting out its final views before implementing the changes through legislation.
More Regulation News
RELATED TOPICS: Regulation
Latest News
Responsible Gambling
Parlays, Pressure, and Addiction - The Risks of Modern Sports Betting
Dec 20, 2024Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for UK Government Opens Consultations for Proposed Gambling Levy