As the Gambling Commission turns its spotlight on Fixed Odds Betting
Terminals situated in bookmaker outlets around the United Kingdom and the
possible link between addictive gambling habits and these gambling machines,
British bookmakers are facing a possible hike in taxation.
The pre-budget report, written by Chancellor Alistair Darling, and due out
today, may see the government impose heavier taxation on these bookmakers in a
bid to obtain more money for state coffers, and - apparently - to see less of
these gambling machines in retail outlets as a result.
Analysts believe that the government will target any area it can in order to
earn more money, after it promised huge amounts in a bail out proposal during
one of the worst financial crises to hit the UK in many year.
An analyst at a leading financial firm, Anna Barnfather said: "The budget has
contained many surprises in the past, and it is generally agreed that gambling
profits are easy targets in the current environment. We believe that an increase
in machine taxes is most probable, and, indeed, likely."
The Gambling Commission was ordered by the government to investigate any
possible link between these gambling machines and addictive behaviour, and while
the findings will be made public next summer only, it is believed that the
government will not wait until them to make its decision to impose higher tax
duties.
"The Treasury needs the money, machine income has been the bright spot for
the UK operators, and there have been suggestions that the addictive nature of
the machines should be addressed further," said an analyst for Blue Oars
Securities, Derren Nathan.
