UK Shadow customs Secretary Harriet Harman, whom week that is last her plans for an additional levy on all types of recreations betting, online and off. (Image: theguardian.com)
The stock market had reacted poorly to news that the united kingdom Labour Party is planning for a levy that is multimillion-pound all sports betting, online and off, should it is elected in 2015. Ladbrokes plc dropped 3.16 percent, while William Hill plc fell 2.88 percent immediately following the statement by Labour’s Shadow customs Secretary Harriet Harman week that is last. The levy shall be similar to that currently applied to horseracing betting, the revenue from which, some £82 million ($139.314 million) in 2014, is ploughed back in the horseracing industry.
More Money, More Sports
The scheme that is new element of Labour’s ‘More Sport for All’ incentive, that will see the extra revenue raised from sports wagering going mainly to the growth of grassroots sports, with some going to the remedy for problem gambling. Harman also said she is considering the introduction of a ‘proper levy’ on revenue derived by the Premier League through the purchase of soccer television liberties, which will likely be used on developing grassroots soccer.
‘we had been all proud to host the Olympics and Paralympic Games in London couple of years ago but instead of seeing increased involvement, things have got worse especially amongst young adults as being a out Continue reading “UK Bookmakers Threatened with Mandatory New Levy”