General betting duty receipts are up 3.5% this year but the Chancellor is worried they will be hit if British bookies carry out their threat to go offshore. The threat follows the decision in May by Gilbraltar-based Victor Chandler International to seek bets from the UK. The company exploited a loophole in the ban on advertising 'tax-free' offshore betting by using teletext and other electronic media. Brown's announcement will close the loophole. The Treasury added it had 'ruled out no options' in its efforts to discourage offshore betting.
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