UK scraps 6% online horseracing tax hike, keeps rate at 15%, but raises other betting taxes.

The UK government has dropped Chancellor Rachel Reeves’ proposed 6% rise in betting duty on online horseracing, keeping the rate at 15% after intense industry and public opposition. The decision averts potential job losses and financial strain on the 500-year-old sport, which supports 85,000 jobs and holds cultural significance. While horseracing taxes remain unchanged, online betting duties are increasing from 15% to 25% and remote gaming duty from 21% to 40%, raising concerns about reduced sponsorship, lower prize money, and long-term harm to the industry. Officials stress the need for collaboration to ensure sustainability despite the tax changes.