UK gambling tax rises in H1 2022-23, but remote duty falls
The UK's provisional betting and gaming tax revenue for the six months ending September 30 increased by 11.0% from £1.46 billion to £1.62 billion ($1.85 billion/ €1.88 billion) compared to the same time in the prior year.
The Lottery Duty, which provides 30% of the total, and the Remote Gaming Duty, which contributes 28% of the total, are the major contributors to this statistic. However, both duties decreased in absolute terms and as a proportion of the total compared to the same period the previous year.
As noted by HRMC, the 2022 numbers had a high degree of month-to-month variance, indicating both seasonal variation and a drop in month-to-month stability following the epidemic.
“Since the 2020-21 financial year, monthly receipts have been more unpredictable and, instead, receipts across each quarter are now more representative,” it said.
As a result, the figures varied widely. On the high end, about £500 million was collected in April alone, while the public purse only received £93 million in September.
The decline in Remote Gaming Duty revenue may mirror broader trends in internet gaming. In their Q2 financial reports, many significant operators reported reduced UK revenue totals, citing enhanced self-imposed consumer protections ahead of the UK gambling white paper, declines in consumer spending, and difficult comparisons.
These taxes, which include the Machine Games Duty, the Gaming Duty, and the Bingo Duty, have risen since the same time last year. This is likely attributable to the fact that retail betting venues and casinos were not disrupted or closed by the Covid-19 epidemic during the relevant six-month period, following closures or other restrictions in preceding periods. Nonetheless, revenue from these taxes is still usually below its pre-pandemic peak.
By fLEXI tEAM