A fresh wave of speculation over increased gambling duties sent a chill through the UK’s betting sector late last week, dragging down share prices across some of the industry’s biggest names. The rumour mill, fuelled by political sources and media reports, suggests that Chancellor Rachel Reeves could use the upcoming autumn budget to tighten the tax regime for both online and land-based operators.
Friday’s trading session turned turbulent almost immediately after it emerged that Treasury officials see higher levies as “near certain.” Investors reacted swiftly, wiping significant value from leading gambling stocks: Flutter Entertainment slumped 8.1% to 21,060.00p, Entain lost 5.8% to 938.00p, Evoke fell 7.2% to 66.10p, and Rank Group dropped 4.8% to 147.60p.
Monday brought calmer conditions but little in the way of a rebound. Flutter dipped another 0.09%, Entain slid 0.95%, and Evoke shed 2.31%. Rank Group alone clawed back ground, inching up 0.95% to 149.00p.
How It All Started and Where It Is Going
These happenings have since revived memories of October 2024, when similar tax hike rumours triggered a sector-wide sell-off. That scare proved short-lived after no such measures appeared in the final budget, though it underscored just how sensitive the market remains to fiscal uncertainty.
Chancellor Reeves, speaking last week, confirmed a review of gambling taxation is underway but declined to outline specific measures, stating that any changes would be announced “in the normal way” later this year. Industry body the Betting and Gaming Council has warned that aggressive tax increases risk harming investment, jobs, and consumer protection, potentially pushing more players toward unregulated markets.
With policy debate likely to intensify, analysts expect the sector to remain volatile. Any hint from the Treasury could quickly tilt sentiment again, leaving operators and investors alike watching the political horizon as closely as their balance sheets.
