Business Irish

Monday 22 July 2019

Betting duty jumps after years of decline

Michael Noonan
Michael Noonan

Gordon Deegan

Revenues generated from the Government's betting duty last year increased to €26.16m after years of decline.

According to figures provided by the Minister for Finance, Michael Noonan, in a written Dail reply to Fianna Fail Finance spokesman Michael McGrath, revenues from betting duty increased from €25.42m to €26.16m last year. The provisional €26.16m for 2014 compares to €27m in 2012, €27.09m in 2011 and €30.9m in 2010.

Deputy McGrath yesterday welcomed the increase, but hit out at the continuing delay in extending the 1pc betting duty to online bets. In its 2014 accounts, Paddy Power reported a sharp rise in revenues from online betting with a 21pc jump in online customers and Deputy McGrath said the failure to extend the 1pc duty to online betting has benefited the bookmaking industry to the tune of €50m since 2011.

Irish Independent

Also in Business