Gambling: Internet bets hit by 1pc levy
Published 08/12/2010 | 05:00
Wagers placed over the internet will be hit with a 1pc betting tax from next year.
The Government expects that the additional tax could eventually generate as much as €20m a year for the Exchequer.
A 2pc levy is already paid on bets placed at licensed retail betting premises in Ireland, but it's effectively absorbed by betting groups.
Betting exchanges, such as Betfair and Betdaq, will also be subject to the change but the minister said the calculation of the tax at such exchanges would differ from that applying to bookmakers.
Yesterday, a Paddy Power spokesperson said that the 1pc tax must be "stringently" enforced. The minister maintained yesterday that the tax was a "positive signal" for the industry.