Bookies backing a sure thing
How the bookmakers are benefiting from one of the lowest betting tax regimes in the world
Bookmakers have grown their turnover exponentially in the last two decades.
Yet incredibly, the amount of tax recouped by the state from the pastime was lower in 2010 than it was 20 years earlier. Betting tax payments to the exchequer totalled €37 million in 1990, but just €30 million last year.
One of the reasons why the tax take has fallen is that betting tax in 1990 was 10 per cent. But last year, it was just 1 per cent.
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