Question:

What does Betting tax stand for in greyhound racing betting?

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I was taken back when I came to know, of this term "Betting tax" in greyhound betting. Can you help me know, what does Betting tax stand for in greyhound racing betting?

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  1. Betting Tax - Tax on a Bookmaker's turnover. In the UK this is a 'Duty' levied on every Pound wagered. Common methods of recouping this by the punter are to deduct tax from returns (winnings) or to pay tax with the stake/wager. In the latter case, no tax is deducted from the punter's winnings.

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