OCUK News Centre

Remote UK Betting Tax to Rise as Part of 2019 Budget

Remote UK betting tax is set to increase by six percent as the Treasury looks to plug the gap left by reducing the maximum stakes for fixed odds betting terminals (FOBTs).

In announcing his 2019 budget, Chancellor of the Exchequer Philip Hammond has said remote gaming duty will rise to 21 percent. The move comes amid growing pressure from anti-gambling advocates to bring forward the new £2 FOBT betting limit.

Remote Betting Tax Hike to Cover FOBT Losses

Assessing the impact of lowering the maximum wager on live gaming terminals, the Treasury believes the national coffers will lose around £245 … Read more

The uproar over fixed odds betting terminals (FOBTs) is expected to continue well into 2019 following reports that any changes won’t come into force for another 12 months.

As Chancellor of the Exchequer Philip Hammond prepares to announce his 2019 budget, Whitehall insiders have hit out at reports that impending FOBT cuts won’t take place until October 2019. According to an October 25 report by The Guardian, those supporting the reduction in stakes from £100 to £2 are ready to revolt if the processes is unduly delayed.

Tempers Flare in Whitehall

The latest wave of discontent comes after a select … Read more

UK Gambling Stocks Tumble as Betting Tax Hike Looms

UK gambling stocks have taken a hit following the suggestion that Chancellor of the Exchequer Philip Hammond is set to increase remote betting tax.

Although the Chancellor’s October 29 budget is being kept under wraps, sources close to the government believe the levy for online operators could increase by as much as 10 percent. With the rumour mill turning, many of the leading UK gambling brands have seen their value fall by as much as seven percent.

Hammond Looking to Plug FOBT Deficit

As it stands, UK Gambling Commission (UKGC) licensees pay 15 percent on all online revenue. When the … Read more

GVC Sees Online Betting Surge as Retail Revenue Falls

GVC Holdings has reported a surge in European and online sports betting revenue despite like-for-like retail earnings in the UK falling by 2 percent.

In a trading update published on October 18, the parent company of Ladbrokes Coral reported a 14 percent upturn in business during the third quarter of 2018. Shining a light on the 10 percent year-on-year increase, GVC said that online net gaming revenue was up by 28 percent.

Live Slump Continues

Driven primarily by sports betting, the rise in online revenue has further cemented GVC’s position as one of Europe’s leading betting brands. However, despite improvements … Read more

Revolt Looms if Chancellor Philip Hammond Delays FOBT Changes

The fixed odds betting terminal (FOBT) debate is back in the spotlight after MPs on both sides of the political divide have warned that a lack of decisive action will lead to a revolt.

Talking to The Sunday People, sources have said Chancellor Philip Hammond will announce the date operators have to reduce the maximum stakes to £2 in his Budget speech at the end of October. However, with nothing set in stone, rumblings of discontent have started to reverberate through Westminster.

Cross-Section of MPs Back Immediate Action

Rallying against the indecision, Conservative MP Iain Duncan Smith has pushed back … Read more

Paddy Power Betfair Rocked Again After Accepting Stolen Money

Paddy Power Betfair has been served a financial blow by the UK Gambling Commission (UKGC) for failing to prevent stolen money from flowing through its exchange.

After the making the news public on October 16, the Irish operator agreed to pay a £2.2 million penalty package. According to the official notification, Paddy Power Betfair failed to correctly engage with to customers later identified as problem gamblers.

Stolen Fund Cost Paddy Power Betfair

As well as ignoring signs of addictive behaviour, the investigation found that the unnamed customers were using illicit funds to make bets online and offline.

“As a result

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Knives Out for Paschal Donohoe Following Irish Gambling Tax Hike

The Irish gambling tax rate will double from one percent to two percent next year following a recent announcement by finance minister Paschal Donohoe.

Outlined as part of the Irish government’s Budget 2019, the new levy will apply to retail and online bets from next year. As well as doubling the rate for traditional bookmakers, Donohoe has raised the tax rate on bets made through exchanges from 15 percent to 25 percent.

Reacting to the October 9 announcement, industry insiders described it as a critical blow for the industry. Within 24 hours, Irish betting brand Paddy Power Betfair saw £250 … Read more

Lucy Buckley Becomes Nektan CEO Ahead of Company’s US Push

Lucy Buckley will lead gaming operator Nektan’s US charge after being named as  chief executive officer (CEO) on October 9.

The appointment of Buckley comes after former chief executive Leigh Nissim resigned in July 2017. Bridging the gap between the appointment was Gary Shaw who will now become an executive director under Buckley.

Inspired Move Brings Buckley On Board

In taking the role, Buckley will resign as vice president of Interactive at Inspired Gaming Group and assume her new position on December 3.

According to Shaw, Buckley’s experience will play a key role in the company’s international expansion plans.

“Lucy’s

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GVC Holdings Leads Charge for Greater Social Responsibility

Chief executive of GVC Holdings Kenneth Alexander is taking the bull by the proverbial horns in an effort to improve social responsibility standards across the gaming industry.

In the wake of deputy leader of the Labour Party Tom Watson calling for a reduction in the number of gambling adverts on TV, Alexander has said that some sort of ban should be in place. Commenting on the company’s plans in an October 9 press release, the GVC chief have said he’s ready to see a ban on gambling averts before the 9pm watershed.

Getting Back On Track

Referring specifically to content … Read more

UK Casino Players to Get Better Deal with New Dispute Resolution Standards

UK casino and betting customers can expect a better level of service from now on thanks to new dispute resolution guidelines published by the Gambling Commission (UKGC).

Announced on October 1, the new standards will redefine how complaints are handled by all UKGC licensed operators. The finalised rules will come into effect on October 31 and the hope is they’ll streamline the reporting process and lead to fairer results for all concerned.

Raising Standards In All Areas

In practice, the alternative dispute resolution (ADR) guidelines will address seven key areas, including:

Defining the types of complaints operators are expected to … Read more