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Bookmakers 07 nov 2023 at 12:52

Georgia will increase taxes on gambling

Dean Hall
Author
Georgia will increase taxes on gambling

Georgia is raising the tax rate on gambling in an effort to curb the catastrophic rise in the number of gamblers.

The country's Prime Minister, Garibashvili, expressed surprise at the surge in gambling participation despite the ban on advertising.

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In response, the government will increase the tax rate on the gambling industry's profits from 10% to 15%. There will also be changes to the withdrawal of funds, with players now paying 5% instead of 2%.

What is the likelihood that some gamblers will simply turn to illegal bookmakers?