Oh, to be in England

althelegend · 10-14-2006, 10:05 AM

Oh, to be in England now the gambling law is here,
Bookies on street corners, no lawmen to fear,
Gambling by computer every day of the year.

There used to be a betting tax in the U.K. So some books moved operations offshore to Gibralta etc. to avoid this punative tax.

So what did the British govt do--pursue these criminals and bring them to justice?

No, It simply scrapped the tax and relaxed gambling laws instead of driving income abroad.

America--Take Note.

ourbet · 10-14-2006, 10:18 PM

When did the UK do away with betting tax althelegend? I seem to remember that you could either pay it (the tax) on the front end or pay it on the back end - depending of course if you won!

Did they do away with this requirement altogether then?

tacomax · 10-14-2006, 10:36 PM

The betting tax started in the 1960s, I think. You paid the % tax either upfront or, if not, your winnings were taxed. In time, the big players moved offshore so that their customers could bet tax-free. Then, about 5 years ago, the Government introduced a scheme whereby the bets weren't taxed at source but rather the profits of the bookmakers were taxed instead. Most, but not all, of the big players then moved their operations back to the UK.

ourbet · 10-14-2006, 10:43 PM

Thanks for that tacomax!