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Industry
January 30, 2024
GRIT Act to Combat Rising Gambling Addiction across the US
Earlier this month, Sen. Richard Blumenthal along with Rep. Andrea Salinas introduced a new proposal called the Gambling Addiction, Recovery, Investment, and Treatment (GRIT) Act, proposing the allocation of additional funds toward treatment and prevention of gambling-related disorders. The proposal is built upon the existing federal excise tax that applies 0.0025% on every sports wager […]
Industry
January 29, 2024
The Dones and the Coates Rank among UK’s Biggest Taxpayers
Gambling industry representatives have once again appeared at the top of The Sunday Times’ Tax List. The 2024 edition of the list shows that the owners of Betfred and bet365 occupy two of the five top spots. Outclassing celebrities such as Harry Potter author J.K. Rowling (31st place) and singer Ed Sheeran (32nd place), Fred […]
Industry
January 22, 2024
JenningsBet Chimes in with Statutory Levy Warnings, Predicts Adverse Effects
JenningsBet, an independent British betting operator, has weighed on the statutory levy discussions, saying that the measure would have adverse effects. According to the company, a mandatory levy would result in closed shops and mass layoffs. For reference, the statutory levy is a much-discussed measure outlined in the United Kingdom’s Gambling Act white paper. The […]
Industry
January 22, 2024
ATG Promotes Differentiated Tax as Sweden Prepares to Raise Gambling Taxes
Aktiebolaget Trav och Galopp (ATG), Sweden’s former horse racing monopoly, is not happy with the country’s plans to introduce a tax hike. Hasse Lord Skarplöth, the operator’s chief executive officer explained that his team was shocked by the proposal and called for differentiated tax that would protect the racing sector. For reference, Sweden plans to […]
Industry
January 17, 2024
American Gaming Association Rejects the Federal GRIT Act
Earlier in the week, Sen. Richard Blumenthal and US Rep. Andrea Salinas introduced the Gambling Addiction Recovery, Investment, and Treatment Act (GRIT). The GRIT would fund a series of research grants (25% of the revenue) as well as prevention and treatment solutions for problem gamblers (75% of the revenue) via a 50% diversion of the […]
Industry
January 16, 2024
Federal Handle Tax Bill Sparks Industry Controversy
In the 1950s, a federal excise tax on sports wagers was implemented as a method to fight against illegal gambling. The tax, which is 0.0025% of every sports wager has remained in place since, despite efforts of lawmakers against it. While at the time, only Nevada was affected by the tax, this is not the […]
Legal
December 22, 2023
Bulgaria Introduces Drastic Fee Hikes for Gambling Operators
Bulgaria has finalized an overhaul of fees for gambling operators, increasing costs between two and four times. These measures should bring in roughly BGN 200 million ($112.62 million) in additional revenue for the government. This amendment, integrated into the final provisions of the 2024 State Budget Law, garnered support after significant deliberations involving the country’s […]
Industry
December 21, 2023
Bulgaria’s AGIB Opposes the New Gambling Tax and Deadline
Bulgaria’s new gambling taxes do not sit well with the gambling industry. This follows the National Assembly Committee on Budget and Finance’s passing of a measure that would raise the gambling license fees by a staggering 300% and the alternative gambling tax by 60%. The Association of the Gaming Industry in Bulgaria (AGIB) expressed its […]
Industry
December 13, 2023
Curacao’s Minister of Finance Announces New License Fees
At the start of September, Curacao initiated its updated application process for online gambling licenses, reaching a critical milestone in the island’s strategy to improve the legitimacy of its online gambling industry. Now, according to reports from iGamingBusiness, Curacao’s Minister of Finance, Javier Silvania, has officially announced the new fees that gaming operators looking to […]
Industry
December 8, 2023
BOS: Sweden’s New Gambling Tax Is a Gift to the Black Market
Sweden’s online gambling association, Branschföreningen för Onlinespel (BOS) is not happy with the government’s plan to increase the gambling tax. According to its general secretary, Gustaf Hoffstedt, this move would be a huge Christmas present to the black market. For reference, Sweden just proposed to raise its gambling tax from 18% to 22%. The new […]
