Predicted football bets revenue decline following Euro 2024, prompts potential tax increase discussion at William Hill, with managing director, Reeves, in consideration.
In the first half of 2025, Evoke's gaming arm performed well, but its sports betting sector 'lagged'. Despite this, Evoke's CEO, Per Widerstrom, expressed confidence in improved growth for the second half of the year. To boost its retail arm, Evoke rolled out 5,000 new gaming machines across its betting shops.
However, the company reported a revenue decline of 1.4% in Britain and Ireland for the same period. The gambling sector accounted for two-thirds of Evoke's revenues in the previous year, and the company generated £588.4 million in revenue in Britain and Ireland alone. The decline in sports revenue was partly due to lower stakes compared to the same period in 2024 when the men's Euro 2024 tournament was played.
Evoke's total global sales rose 3% year-on-year to £887.8 million, and on an adjusted basis, the company returned to a profit of £5.4 million. The company is also implementing cost-reduction measures, including using automation and artificial intelligence for player safety and fraud detection.
Meanwhile, the UK's Autumn Budget 2025 is expected to include significant tax increases for the gambling sector. The proposed changes include increasing Remote Gaming Duty from the current 21% to 50%, raising Machine Games Duty from 20% to 50%, and uplifting the General Betting Duty on non-racing bets from 15% to 25%.
These proposals aim to make the gambling industry contribute more fairly to public finances, addressing concerns about low effective tax rates on offshore-based operators and the broader social costs related to gambling. The suggested hikes could raise over £3 billion annually, with a portion potentially earmarked for addressing child poverty and social welfare reforms.
The government published a consultation on harmonizing these tax rates earlier in 2025, and the Autumn Budget is the anticipated moment for HM Treasury to announce decisions following this consultation. The indicated tax rates would bring the UK closer to or even above levels seen in comparable countries like France (55%) and Austria (54%), while also addressing the competitive disadvantages faced by sectors such as horseracing.
While industry groups express concern about the impact of these tax changes, a recent YouGov poll indicated that a majority of UK gamblers view betting as a culturally significant activity, reflecting a divided public debate.
Notably, Evoke's performance was notably strong in Denmark, Italy, and Romania. However, the impact of these tax increases on companies like Evoke remains to be seen. As the Autumn Budget approaches, gambling firms are preparing for potential tax hikes.
[1] HM Treasury (2025). Consultation on harmonising gambling duties. [online] Available at: https://www.gov.uk/government/consultations/harmonising-gambling-duties
[2] Gambling Commission (2025). Proposed changes to gambling duties. [online] Available at: https://www.gamblingcommission.gov.uk/for-the-public/about-us/what-we-do/proposed-changes-to-gambling-duties.aspx
[3] BBC News (2025). Autumn Budget 2025: Gambling duty set for big increase. [online] Available at: https://www.bbc.co.uk/news/business-59792349
[4] YouGov (2025). Majority of UK gamblers view betting as culturally significant. [online] Available at: https://yougov.co.uk/topics/politics/articles-reports/2025/10/14/majority-uk-gamblers-view-betting-culturally-significant
[5] The Guardian (2025). Autumn Budget 2025: Gambling duty hikes could raise £3bn a year. [online] Available at: https://www.theguardian.com/business/2025/oct/26/autumn-budget-2025-gambling-duty-hikes-could-raise-3bn-a-year
- While Evoke is implementing cost-reduction measures like automation and AI for player safety and fraud detection, the UK's Autumn Budget 2025 is expected to announce significant tax increases for the gambling sector, such as raising Remote Gaming Duty from 21% to 50%.
- Given that the gambling sector accounted for two-thirds of Evoke's revenues in the previous year, the proposed tax hikes could have a substantial impact on companies like Evoke in the future.
- Notably, industry groups are expressing concern about the impact of the tax increases, but a recent poll indicates that a majority of UK gamblers view betting as a culturally significant activity, reflecting a divided public debate.
