Skip to Content

UK’s biggest online firm Bet365 may go offshore

09 November 2011

BET365, the UK ’s  biggest internet betting operator, have giventheir clearest suggestion yet they could move offshore.

John Coates, joint chief executive, said yesterday the company could be forced to move their business from Stoke-On-Trent , laying blame firmly on the issue of doubletaxation.

A UK-based firm that attract bets from a regulated overseas jurisdiction has to pay that country’s level of duty as well as Britain ’s 15 per cent gross profits tax.

Coates, addressing members of the Culture, Media and Sport select committee in Westminster , revealed; “Seventy per cent of our business is non-UK and we are starting to hit a very real problem of double taxation.”

With other taxes being paid on top of the UK ’s taxation they are facing a real problem.  With Bet365’s sports-book online server inthe UK , bets also attract British duty of 15 per cent GPT . “That is just unsustainable,” Coates said. “Unless there is a change, so we don’t have to pay GPT on non-UK customers, we’ve got an issue facing us.”

Pressed on whether he was saying that is the regime remained the same and Bet365 would not be able to stay in the UK , Coates remained guarded, but said: “We are getting to the stage where it’s unsustainable for us to be subject to double taxation. So we would have to do something about it.”

Back to News