Blow for bookmakers: Osborne hikes levy on FOBTs from 20% to 25%

Posted on March 20, 2014 by admin
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Betting machines dubbed the ‘crack cocaine’ of gambling will be taxed more heavily – but campaigners and the industry say the duty rise will not help problem gambling.

In a blow for bookmakers, whose shares fell yesterday, George Osborne said Fixed Odds Betting Terminals (FOBTs) were ‘highly lucrative’ and he was hiking the levy on them from 20 per cent to 25 per cent.

Read the full article in the Mail online