Bobby Dean challenges the gambling industry on offshore tax loopholes

At a recent Treasury Select Committee hearing, Bobby Dean MP confronted gambling industry leaders over their use of offshore tax arrangements. He argued that taxes on the sector could help fund important services at a time when public finances are tight.

Bobby highlighted that “75% of UK betting takes place with bookmakers registered in Gibraltar. They obviously pay no VAT and a lower rate of corporation tax.”

He also raised concerns about the industry’s reliance on profits from a small minority of people who either have a gambling problem or are at risk of developing one.

Bobby Dean MP said:
 “A House of Lords Committee report said that the vast majority of profits come from a very small number of prolific gamblers. In fact, they estimate that around 60% of the industry’s profits come from just 5% of customers, many of whom probably have a gambling problem or are at risk of having a gambling problem.”

He added:
 “People do suffer harm in the gambling industry; that is why you take measures to try and tackle that harm.”