First offshore bookmaker
- Who
- Victor Chandler International
- What
- First
- Where
- Gibraltar
- When
- 1999
The first bookmaking company to move their business offshore, to evade the UK gambling tax, was Victor Chandler International, now trading as BetVictor. The company decided to move its entire operation offshore in 1997, a move which was completed in 1999. The relocation was precipitated after the Irish government announced plans to lower betting duty from 10 percent to just 5 percent. Wary of competition from Irish bookies, Victor Chandler made the bold move of relocating to Gibraltar – where the betting tax is zero. Many other bookmakers now also have a presence on the Rock.