Zero-tax betting boost for Stanley

BOOKMAKERS Stanley Racing said trading at its Irish shops had improved, thanks to zero-tax betting.

The company, owned by British firm Stanley Leisure, last year decided to go to tax-free betting in a bid to gain market share.

Stanley said it had worked across its 51 Irish shops and that it is now looking for another period of growth.

It added that the decision to re-brand as StanleyBet from Stanley Racing offered the business an opportunity to continue its marketing campaign and further grow its market share.

It is experiencing an encouraging and substantial rise in turnover since it abolished betting duty in October 2003 and its strategy had been vindicated.

Irish manager Linda McDowell said: "we believe that our guaranteed tax-free betting offer will bring in significant turnover during the intense spring racing season. The level of Irish interest in the Cheltenham Gold Cup, the Champion Hurdle and the Aintree Grand National is a platform for StanleyBet to show the Irish market just how committed it is to the Irish betting market."

Stanley Racing has 81 shops in Ireland.

According to the most recent accounts for the Irish arm, turnover for the year to April 28 2002 rose by nearly 18% from €73.95 million to €87.17m.

Profits before interest and tax were up from €2.2m to €3.88m, a 76% rise.

Competition in the betting market has been hotting up for a number of years as the industry sees record growth.