Tired_Of_Conmen
Active member
- Messages
- 103
- Likes
- 1
I can't see that happening really because they law is the law. They would have to make changes to the gambling law imposing complex additions to it...? I'm sure it's well within reach and has been thought of but it just hasn't been done so I'm guessing it wont be. It would kill the SB industry overnight unless there was an easy loophole exposed.
I see it like this: as long as something is classed as gambling, people (including lawmakers) don't take it seriously. It's a past-time. It's a laugh, a flutter, and you always are expected to lose as a punter. Hell, even some SB firms treat it that way still! "Got an opinion on the FTSE, have a flutter, and here's the phone number for gambling counselling at the bottom of our website" - they don't see us as "traders".
So the tax was removed years ago and bookies loved it, punters loved it, it wasn't a big thing to the non-gambling world (the govenment's Budget always concentrates on more "normal vices" like cigarettes and booze when it comes to tax).
So as long as no-one "up there" really takes gambling as a serious issue, then tax will not be considered on the bets. (I know the SB industry is growing and this may have raised eyebrows with the thieves at Whitehall etc, but knowing how inefficient the UK government departments are I don't think the tax thing will change back like it used to be for gamblers).
However, I see what you mean about individuals, they may change rules to look at individual cases of high-price punters in sports and financials, and then tax the shirt off their back if they are raking it in, but really I'm sure there are loopholes they could use to stop paying tax anyway. There's always ways, especially in a situation like tax where everyone generally looks blankly at the person next to them and shrugs their shoulders (and that's the people in charge LOL!)
That's my take on it.
Or maybe that's my hope on it?
LOL!
