Ladbrokes gives in and agrees to pay out punter’s €100K win on €30 bet
The Entain-owned bookmaker has rowed back on its decision to withhold payment on the each-way double wager.
UK.- Entain’s Ladbrokes has finally agreed to pay a player €100,000 for a €30 double wager on two Irish races. The operator had put payment on hold due to an investigation by the Irish Horseracing Regulatory Board (IHRB).
The player was a stable lad for racehorse owner Declan Queally in Waterford. He had placed a bet that combined 80-1 odds on Rocky’s Diamond and 125-1 on Diamond Nora at Limmerick and Ballinrobe on April 19, 2024. He could have won €319,440, but Ladbrokes’ terms only allowed for a €100,000 payout.
But that payout was then held back while raceday stewards undertook an inquiry into the two races, amid what appeared to be an unexpected improvement in form by the winners. Over a year later, the investigation continues, but the IHRB has decided the player should face no action.
Ladbrokes said it was now satisfied that it could proceed with payment in accordance with its terms and conditions.
Opposition to proposed new Remote Betting and Gaming Duty
The gambling industry lobby group, the Betting and Gaming Council (BGC), has been quick to respond after the UK tax authority, His Majesty’s Revenue and Customs (HMRC), initiated a consultation on a proposed new tax framework for remote gambling.
The proposal would integrate three separate tax categories – Remote Gaming Duty, General Betting Duty, and Pool Betting Duty – into a new single category termed Remote Betting and Gaming Duty (RBGD). The government says the aim is to simplify the tax system for both the HMRC and stakeholders and to acknowledge the growing prominence of online gambling.
There’s no mention in the consultation of what the new unified tax rate would be, but the BGC is preempting the possibility that it would be the same level as Remote Gaming Duty, potentially representing a higher cost for operators that currently pay General Betting Duty.
