AK Bets Opens Market on UK Machine Games Duty Rate Ahead of Autumn Budget
AK Bets has opened a market heavily favoring a rise in Machine Games Duty to 40% at 8/13 after the Autumn Budget. Kaminskas warns of major damage to betting shops, horse racing, and regulated operators, with only the black market gaining. This follows a letter from 90 Labour MPs backing the doubling from 20%.
SCCG Take — The market crystallises operator expectations of further tax pressure that risks accelerating retail exits and unregulated migration. Policymakers face a direct trade-off between short-term revenue and sustained integrity of the licensed sector.
A UK and Ireland bookmaker has opened a market on its platform for the Machine Games Duty rate that will follow next week’s Autumn Budget.
AK Bets, active in the horse racing sector, initially priced a rise to 40% at 1/2. That has since moved to 8/13, while holding at 20% is 2/1 and a rise to between 21% and 39% is also 2/1.
Founder Anthony Kaminskas told SBC News that despite the market’s generally playful nature, the rate set will have a monumental effect on the viability of betting shops and maybe even horse racing itself. “Given we talk so much about it and we haven’t a clue what this government will do, we decided to offer a market on it,” Kaminskas explained.
He added that exactly 40% is the biggest loser in the book at present and that the operator is taking loads of margin, a sign of things to come as firms absorb crushing tax rises. Kaminskas anticipates further interest as Budget Day approaches.
Pressure for MGD Doubling and Industry Pushback
MGD on Category B gaming machines is heavily touted to double from 20% to 40%. The prospect gained momentum after a signed letter from 90 Labour Party backbench MPs urging the increase while sparing traditional fruit machines in pubs. Labour MP for Halesowen Alex Ballinger, who authored the letter, told ITV News the push reflects MPs recognising harm in communities.
Betting and Gaming Council CEO Grainne Hurst responded that the MPs are deeply misguided in thinking higher taxes will protect UK communities and high streets. Kaminskas was blunt: “The only winners to increased taxation are the black market. I don’t have enough fingers on both hands to count the losers.”
Such a rise would land one year after two prior tax increases that have already contributed to around 2,000 job losses. Observers note that shop closures would likely drive some customers toward black-market platforms offering weaker protections than the regulated estate.
Reporting: SBC News
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
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