Tax rate cut set to bring multi-million pound windfall for bingo industry

By

Sarah Bridge, Financial Mail On Sunday

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Lobbying campaign: Bingo industry

The bingo industry is hoping for a multi-million pound windfall this week as George Osborne looks likely to cut its tax rate to bring it into line with other gambling.

Bingo, traditionally seen as a ‘soft’ type of gambling compared with casinos or gaming machines, is taxed at 20 per cent, unlike the 15 per cent rate levied on other gambling, including sports betting.

But with the arrival at the end of the year of a tax for offshore-based online gambling, which is likely also to be at 15 per cent, Osborne is expected to correct the discrepancy. 

The bingo industry has been running a hectic lobbying campaign in advance of Wednesday’s Budget and has garnered a lot of support from MPs.

One source in the industry said: ‘The Conservatives said in 2009 they would do this when the economy improved.’

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Hamilton2015McLaren,

London England, United Kingdom,

2 hours ago

Just encouraging gambling.

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Tax rate cut set to bring multi-million pound windfall for bingo industry