Betting tax increase could cost jobs, bookmakers warn

Finance Minister Paschal Donohoe kicked to touch a decision to double tax on betting amid warnings of jobs losses from the Irish bookmaking industry.

The Department of Finance had presented three options that could have raised up to €50m extra from bookies or punters as part of a review of betting tax. However, Mr Donohoe decided he would leave the 1% rate alone and reconsider the increase in next year’s budget.

The department had received multiple submissions from the betting industry who had warned an extension of the tax could be “potentially damaging”.