Tax Hike on Sports Betting Expected
Chancellor Rachel Reeves is set to announce a significant tax increase on sports betting in the upcoming budget. Betting companies warn this will force widespread shop closures and result in thousands of job losses.
Industry Response
- The CEO of BetFred has stated that the tax hike would lead to shutting all 1,300 of their UK betting shops.
- Entain, the owner of Ladbrokes and Coral, also threatens to close many of its 2,300 outlets.
Political and Public Debate
Some Treasury Select Committee members have dismissed these claims as scaremongering. However, The Sunday Times raised a question: whether betting shops, often seen as outdated and harmful, might still serve as crucial support points for mainly working-class communities during tough times for high streets.
Community Role of Betting Shops
Employees have highlighted the social role these shops play. One manager told the newspaper:
“I could do with Samaritans training sometimes. People charge their phone and have a hot drink as they tell me everything about their lives.”
Wendy Richards, a longtime BetFred worker, described betting shops as akin to community centers:
“The men do open up, they will visit the doctor if we tell them to.”
Summary
While the tax increase on betting shops aims to address wider economic concerns, the shops remain important social hubs in many working-class neighborhoods, supporting vulnerable individuals.
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