Would a gambling tax rise in the budget really shut shops and cost jobs?

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Financial Intelligence • Markets • World News • Independent Analysis
Published: 2026-10-02 • Permanent link

Rumblings from Westminster have sent shockwaves through the betting industry, as reports suggest that Chancellor John Healey is mulling a doubling of slot machine duty. The proposed tax hike, which could raise up to £460m more annually, has already sparked fierce resistance from industry leaders. The Association of British Bookmakers (ABB) has vowed to "fight tooth and nail" against the move, warning that it could lead to the closure of hundreds of bookmaking shops and the loss of thousands of jobs.

Fears are growing that a gambling tax rise could have far-reaching consequences for consumers, who are already feeling the pinch from rising mortgage rates and stagnant wages. With many households struggling to make ends meet, the prospect of higher betting costs could exacerbate existing financial pressures. Industry insiders are warning that a tax hike could push vulnerable individuals towards problem gambling, with potentially devastating consequences for their mental and financial wellbeing.

Industry experts point to the UK's complex regulatory landscape as a key factor in the government's decision. The UK's betting market is heavily influenced by EU laws, which are set to expire in 2023. The ABB has long argued that a more streamlined regulatory framework is needed to support the industry's growth and job creation. However, critics argue that the government's focus on revenue generation could come at the expense of responsible gambling practices.

The outcome of this standoff remains far from certain, with the Chancellor's office refusing to comment on the proposals. However, analysts are watching closely for signs of market reaction, with many predicting a sharp decline in betting revenues if the tax hike goes ahead. The next few weeks will be crucial in determining the fate of the betting industry, as key stakeholders engage in a high-stakes battle over the future of the sector.