The Betting (Amendment) Bill, which the Irish government hopes will help bridge a huge €50m-plus shortfall in funding for the country’s racing industry, will require all Irish-licensed bookmakers taking more than €200,000 or 10% of bets remotely and non Irish-licensed bookmakers taking online bets in Ireland to apply for a “remote bookmaker’s licence”.
Betting exchanges such as Betfair will be required to obtain a “remote betting intermediary ‘s licence”.
Passage of the Bill when Ireland’s parliament returns after its summer recess will activate the changes to taxation of remote betting contained within Ireland’s 2011 Finance Act. This will compel all bookmakers taking bets from Ireland to pay 1% betting duty on those bets as all betting shops currently do in Ireland.
Betting exchanges will, “in view of the different model adopted by betting exchanges” according to the Finance Act, pay a betting in intermediary duty “of 15% on the commission they charge/receive from persons in the State.”