There will be no increases to UK gambling taxes as a result of this years budget in the UK.

Chancellor Rachel Reeves today delivered the first budget of this Labour Government since being elected this year.

Instead of an increase on taxes, the UK governments plan to consult on reforming the online gambling tax structure sometime next year.

Any changes will then likely take several years.

Accodring to Trade and Industry Minister Nigel Feetham, Gambling operator share prices are this afternoon rebounding, recovering much of the value lost over budget speculation that betting duty could double.

He says this is an excellent outcome and a significant win for Gibraltar’s online gaming firms, which contribute substantially to our economy.