Seminal gambling reform to arrive early

The biggest day in the history of betting, according to some, will arrive three months ahead of schedule, Financial Secretary Paul Boateng last week. British punters will be able to bet tax-free for the first time in 33 years from 6 October . The current 10% tax on betting stakes is to be replaced with a tax on bookmakers' gross profits. Paul Boateng explained: "The old tax on punters has been in place almost unchanged since 1966. But we realised it was not going to work in the 21st century and would mean UK-based bookmakers losing out on the global betting market. Our reforms m...