International edition
July 31, 2021

For Paddy Power, success would hinge on how it is policed

Ireland to propose online betting tax

(Ireland).- In an effort to help raise 56 million euros and support the local horseracing industry, lawmakers in Ireland are set to consider legislation that would see online bookmakers legally responsible for a one percent tax on all betting transactions.

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ccording to a report from Ireland’s Sunday Independent newspaper, Simon Coveney, Agriculture Minister for Ireland, is due to present legislation that would see online bookmakers taking wagers from Irish punters liable for the same betting taxes currently levied against their land-based competitors.

One of the largest online sportsbook operators for Irish punters, Paddy Power, stated that the success of any such tax would hinge on how it was policed.

Patrick ‘Paddy’ Power, Communications Director for Paddy Power told the paper, “It is essential that it is a level playing field. It will need to be robustly policed to ensure everyone pays the same. We have no problem paying tax on our online earnings, we realise the situation the country finds itself in.”

Coveney has also not ruled out increasing the rate of taxation in the future and his proposed legislation would see all online bookmakers required to pay for a licence in order to take wagers from Irish punters.

The newspaper revealed that Coveney has additionally commissioned ‘a major report into the horseracing industry’ that is due to focus on the Horse Racing Ireland authority, which has been the subject of considerable criticism from bookmakers.

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