The UK gambling sector’s statutory levy will come into force on 6 April after being passed into law on 12 February, gambling minister Baroness Twycross told the audience at the Betting & Gaming Council’s (BGC) AGM today (27 February). Online slot stakes will come into force in April and May.
The levy, first announced in November, supports the government’s plans to raise £100 million (€120 million/$126 million) for gambling-related harm prevention via a percentage of industry stakeholder profits.
The rate paid by each business will range from 0.1% to 1.1% of gross gambling yield (GGY). The exact rate will be determined based on the sector, vertical and the type of gambling they offer. This will take into account licensees’ operating costs and the risk profile of the products they offer.
