New polling shows that more than half of Brits (52%) are in favor of increasing taxes on online gambling, with many prioritizing an increase in gambling taxes over other taxes such as income tax, VAT and fuel duty.
This comes as the Social Market Foundation (SMF) releases a report calling for a significant increase in tax on remote gambling from 21% to 42%, which could raise up to £900 million for the Treasury.
Online gambling, and especially casino gaming, has been linked to higher claims rates, with tax costs estimated at well over £1 billion. The SMF report, written by Dr James Noyes and Dr Aveek Bhattacharya, says the sector is currently undertaxed and highlights that UK operators are paying higher taxes in other countries.
With Britain facing a £22 billion budget deficit, the report urges the government to seize this opportunity, restructure the outdated tax system and tackle the social costs associated with gambling.