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Fred Done, the 83-year-old founder of Betfred and Britain’s highest-paying taxpayer this year, has issued a stark warning about the impact of further tax increases on the gambling industry. 

In an interview with the Financial Times over the weekend, Done cautioned that additional tax hikes could result in widespread betting shop closures, harm related sectors such as horse racing and accelerate the decline of the high street.

Betfred currently operates approximately 1,094 retail shops across the UK. Done highlighted the concrete risks of Machine Gaming Duty – taxes on gambling machines – doubling from 20% to 40%, a move reportedly under consideration by Chancellor John Healey ahead of the Autumn Budget.

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The ASA reviewed whether the ads were directed at under-18s through their placement or content. Its rules prohibit advertising through media where more than 25% of the audience is likely to be under 18. 

While the audience data did not conclusively define the website’s age demographics, the regulator noted small percentages of under-18s in HLTV’s social channels but found the website’s content and presentation clearly targeted adults.

Ultimately, the ASA ruled that the ads did not breach CAP Code rules 16.1 or 16.3.13 and took no further action.

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Amid a string of losses in federal appellate courts, it appears increasingly prediction markets are angling to take their cases to the U.S. Supreme Court, banking that the high court will allow them to continue offering sports event contracts free of state gambling regulations.

Some legal experts and members of the investment community believe it’s possible the Supreme Court could hear a prediction market case at some point over the next six or seven months.

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