UK Gambling Groups See Share Prices Drop

Ladbrokes

UK high street bookmakers such as Ladbrokes and William Hill saw their share prices continue to drop on the London Stock Exchange after the government revealed its 2014 budget, announcing that Machine Games Duty on fixed odds betting terminals would rise from 20% to 25%. The sharp rise in duty on machines offering the highest stakes has been described as a “painful loss” for bookmakers.

The news comes as a blow for UK bookmakers as they struggle to organize their companies ahead of the new Point of Consumption tax that will come into affect at the end of the year. The government ruled that tax will need to be paid based on the physical location of the player (point of consumption) and not where the online gambling operator is located. A number of bookmakers left the UK to relocate their online operations in tax-friendly havens such as Gibraltar several years ago, mainly to escape Britain’s high taxation rates. Now, however, they will need to reconsider the economic viability of remaining in Gibraltar since they will be taxed based on where their players are located. The new POC tax comes hand in hand with new laws that require all operators who have UK customers to carry a license by the UK Gambling Commission.

Experts predict that these changes to the Gambling Act will negatively impact the economies of places like Gibraltar, and will also see more players heading to unregulated online gambling sites.

Olympic Flame Lighting Bets Refunded by UK Bookies

Ladbrokes

All eyes were on who would light the flame at the stadium in order to officially open the games at the Olympic Games opening ceremony last Friday night.

It therefore came as a huge surprise when the honor of lighting the flame went to seven young up-and-coming athletes.

UK bookmakers who have been taking wagers for quite a long time on the identity of the final torchbearer were forced to admit that their punters could never have been able to guess the identity of the torch bearers and have promised to refund the wagers.

Favorites at the bookmakers to be the torchbearer were Sir Roger Bannister, Lord Sebastian Coe, David Beckham, Daley Thompson and the Queen.

William Hill is one of the UK bookies who are refunding the Olympic bets on the torchbearer as they, together with other bookies which include Sky Bet, had no odds on the seven young athletes who were nominated by Lynn Davies, Dame Kelly Homes, Shirley Robertson, Sir Steve Redgrave, Duncan Goodhew, Dame Mary Peters and Daley Thompson.

According to Rupert Adams, a spokesman for William Hill, the UK bookies have been taking bets on who would light the torch since London was awarded the games and Sir Steve was installed by them as their 3/1 favorite. Adams added that despite the fact that they had quoted over fifty celebrities and athletes, it was totally impossible to predict the result.

The lighting of the flame at the stadium by the seven relatively unknown athletes resulted in William Hill refunding a five figure sum to wagerers.

UK Bookie Favorite to Win Rugby World Cup Semifinals Against France

Subsequent to their disastrous Rugby World Cup performance on and off the field the English side left New Zealand in disgrace on Tuesday, 11th October and all attention has now been turned to Wales’s chances of reaching the finals of the competition.

Wales and France are due to meet at Eden Park on Saturday night, October, 15th, for one of the biggest matches in its history.

UK bookmakers have currently predicted that Wales will win the Wales vs. France World Rugby World Cup semi final match.

Ireland’s biggest online and offline gambling company, Paddy Power, is currently offering odds of 4/5 that Wales will win the match while a French victory is listed at 6/5 and a draw at 20/1.

Wales has experienced an exceptional season and the team’s consistency and manner of play has greatly impressed many throughout the tournament with most analysts agreeing that the Welsh side is quite capable of taking down France in Saturday night’s match.

It is felt as though France will not be able to pull of another triumphant win so soon after their quarter finals victory as the team has played particularly inconsistently.

Marc Lievremont, the French coach, revealed that eleven players of the side had played against Wales at the end of this year’s Six Nations tournament and had won 28-9.

Despite the fact that France has won six of the last seven meetings between France and Wales, UK bookmakers are, however, still making Wales a favorite to win this particular match.