The battle rages on between the U.K. bookmaking industry and the Treasury, as they heatedly squabble over the General Betting Duty , currently 6.75 percent, charged on each bet placed by UK punters. The latest bomb was dropped by William Hill.
Several U.K. publications have reported that British sports betting firm is threatening an offshore float of its telephone and Internet betting operation if the March 21 budget announcement doesn't include the lowering of the betting duty.
Treasury insiders, meanwhile, told SportsLive that the Treasury may very well give bookmakers some relief, possibly dropping the excise rate to five percent. Several bookmakers, however, have asked for a drop to three percent.
Adding to the problem, two divisions in the Treasury are battling over the entire betting levy situation, according to SportsLive. The old guard believe punters will happily pay the betting duty, while the new group suggests that belief is "patronizing and blinkered."
Expect the war to continue until the budget is finally released next month.