Not so long ago, the Swedish Ministry of Finance conducted consultations dedicated to the horse racing vertical under the reviewed gambling regulations.
As it is informed in the latest news about the betting market, Branschföreningen för Onlinespel (BOS) welcomes the Ministry’s decision not to impose any levy in the horse racing sector.
Levy was one of the major questions
The tax levied on horse racing betting was among the most urgent topics for consideration. However, after some discussions, the members of the Gambling Market Inquiry refused this opportunity, which was supported by BOS immediately.
The association has agreed with the consultation conclusion totally, emphasizing that the proposed five-percent levy is too huge for this vertical as it almost equals to the revenue it generates. The winning sums take the majority of the income, and the rest of the money will hardly cover the levy. It means that bookmaking companies won’t be ready to operate under such market conditions. It will only help the black market to thrive.
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