Ladbrokes Ireland MD has recently been arguing for a reform to the betting sector legislation that governs the Republics betting shops. The statute governing Irish betting was set as law in 1931.
Joe Lewins has said:
The sector in Ireland is at a crossroads and any move by Government to remedy the current difficulties must take a holistic approach to reform. If these concerns are not urgently addressed, the sector will continue to struggle and this will have a negative impact on much-needed exchequer revenue and employment.
At present the Rayners Lane stock market listed company is second only to Paddy Power in the size of it’s retail betting shop estate. The “Magic Sign” currently have 200 betting shops in Ireland, putting it ahead of Boylesports.
One of the crux points of Mr Lewins argument is that betting shops should be able to stay open later than the last horse race of the day. This would mean that they could let patrons bet on football and greyhound races later into the evening. To be honest I have to question the practicality of having betting shops open so late, with the increased security risk to shop staff in operating well into the evening when some customers maybe over imbibed.
PaddyPower and Labdbrokes Ireland call for 1% tax
Both Ladbrokes Ireland and market share leader PaddyPower are in agreement that a 1% tax on betting would be a forward thinking move by the Irish Exchequer.
We will keep everyone posted with any update.