The Irish Bookmakers Association (IBA) requested that the Minister of Finance maintain the current betting duty rate at 2%.

According to the IBA, the industry is “facing significant cost pressures and major regulatory change” due to the 2024 introduction of the Gambling Regulation Act. They claim that further increases in costs will result in more closures, drive players to illegal sites or establishments, and reduce the number of operators participating in the market. 

Fortunately for players, there are several offshore trusted sportsbooks available for Irish bettors who will no longer have access to their local bookies. These platforms offer regulated betting with competitive odds. The impact of potential tax changes is already being felt across Ireland and the UK. Paddy Power, a beloved bookie, has confirmed that 57 branches will close due to increasing costs in the UK and Northern Ireland. This is not only a blow to sports betting enthusiasts, but also to the hundreds of people who will lose their jobs. 

The IBA explained, “Our Budget 2026 submission highlights the need for a holistic view of taxation and regulation to maintain the viability of licensed operators, protect consumers, and support the thousands of people employed in the sector. The betting duty was doubled in 2019, and the retail industry has been in decline ever since.”

Back in 2008, there were around 1,385 betting shops in Ireland, but this number has halved. After the betting duty was doubled from 1% to 2%, the number of shops decreased by 18%. A further increase, as proposed by the Government, is likely to have even more devastating impacts. 

To protect the industry, the IBA has asked for the introduction of a Social Impact Fund, and also reiterated that it supports the creation of a Gambling Regulatory Authority of Ireland. According to their submission to the Budget, “A period of major regulatory transmission requires stability, not further strain. Increasing the betting duty before the new licensing system was even operational would have been the wrong timing and risked undermining the objectives of the Gambling Regulation Act.”

Should bookmakers close across the country, the impact will be widely felt. Not only does the industry employ thousands of people, but the closure of traditional shops may potentially drive bettors to the black market. This will take tax revenue away from the Exchequer, along with exposing players to increased risks. Each betting shop employs up to five people, which means that even the closure of a handful of establishments due to rising costs will put hundreds of people out of work.

The gambling industry is adjusting to the new regulations under the Gambling Regulation Act, and the IBA is therefore calling for stability in the Budget. The submission concluded: “Protecting employment, sustaining commercial contributions to local economies, and ensuring the commercial viability of legitimate operators must remain central to government policy.”

Although it is unlikely that traditional bookies are going to completely disappear, regulatory changes and increased operational costs will result in a major decline of shops and potentially impact local tourism as residents no longer travel for betting or casino gambling.