Bookies fear budget hit but gaming machine self-harm killed off the old-fashioned shops

Bookies are worried about a potential hit to their profits due to an expected increase in Machine Games Duty in the upcoming budget. This tax affects the revenue from gaming machines, which have become a major source of income for betting shops. The concern is that a higher tax rate could make it difficult for these shops to stay afloat, potentially leading to their closure.

Why it matters

The UK budget may negatively impact bookies, and the rise of casino-gaming has already hurt traditional shops. This could lead to a decline in the bookmaking industry, affecting investor sentiment and potentially leading to job losses.

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