Digest

Totalbet.com, the Internet betting company which is a joint venture between Sportinglife.com and the Tote, is reducing the tax paid on all online bets from 9 per cent to 2 per cent for a promotional period running until the beginning of the new year. The company says it will absorb the reduced tax charges to the customer during the promotion through its own profit margin. Although Totalbet.com now claims the lowest tax rates for any UK-based betting site, it is competing against other foreign-based sites marketed to UK punters which offer much-reduced betting tax charges.

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