|David Harding the chief executive of William Hill, has entered the debate on online betting exchanges, by voicing concerns over current practices and taxation issues. This debate continues with a new momentum following the claims of Ladbrokes chief exec, Chris Bell, last week regarding race fixing.|
Harding has now added comments taking further issue with online gambling by asserting that this internet based method is vulnerable to “unlicensed bookmakers and professional villains”. Some of the comments he has made have continued on with points made before regarding the issue of government legislation which would result in online bookmakers being regulated in a similar way to their land-based counterparts. Harding has also tapped back into an old debate regarding taxation issues with regard to internet gambling sites.
'There are people on the exchanges acting like bookmakers but they are not paying tax or contributing to the racing levy.” He continued with, 'Gross profits tax wiped out illegal betting at a stroke because there was no longer an incentive for people to act as unlicensed bookmakers. But betting exchanges have reopened that problem. You can go on to one, act as a bookmaker and not pay tax or levy. If you went into a pub and started taking bets like that, you'd be arrested. You do it on the internet and you get the Queen's Award for Industry! It’s crazy.”