Betting and gaming shares tumble amid Budget gambling tax changes

Shares in British betting and gaming firms, including Entain, William Hill UK, Evoke, and Flutter, tumbled after the Office for Budget Responsibility (OBR) announced upcoming increases in gambling duties.

The OBR revealed that remote gaming duty will rise from 21 per cent to 40 per cent from April 2026, while bingo duty will be abolished from its current 10 per cent rate.

A new 25 per cent rate of general betting duty for remote betting will also be introduced from April 2027, as part of the changes.

Companies and industry groups have warned that these steep tax increases could push bettors towards unregulated black markets, threaten jobs, and force consolidation among smaller operators.

These moves, attributed to finance minister Rachel Reeves, are expected to raise an estimated £1.1 billion for the government by 2029-30, following years of calls for tighter regulation and higher taxes on the sector.