Fears over doubling of betting tax as sports and arts forced to economise

INDEPENDENT bookmakers around the country will close as a result of the shock rise in betting tax from 1% to 2%, say bookies’ representatives.

Describing the hike as “irrational and disastrous”, the Irish Bookmakers’ Association (IBA) said it would drive sole traders out of business. In recent years, the 1% betting tax has been absorbed by bookmakers rather than passed on to punters, which is set to continue, despite the doubling in tax.

The IBA now fears more of the gambling cake will go overseas as a result of the minister’s move.