Ireland keeps betting duty at 2% as horseracing funding rises to €81.6m

Ireland will retain its 2% betting duty in 2027, while the Government has increased funding for Horse Racing Ireland (HRI) by approximately 3% to €81.6m ($92m).

The wider Horse and Greyhound Fund will rise from €99.1m in 2026 to €102m next year. HRI receives 80% of the fund, with Greyhound Racing Ireland allocated the remaining 20%, equivalent to €20.4m in 2027.

Minister for Agriculture, Food and the Marine Martin Heydon said the additional €2.9m would be linked to implementing recommendations from the Indecon Review concerning equine and greyhound welfare and integrity.

The allocation remains below HRI’s previous funding expectations. Its 2024-2028 strategic plan projected state funding of €88m for 2027 as part of a target to reach €92.4m by 2028. The latest allocation is €6.4m below the figure previously forecast for next year.

For Ireland’s betting sector, the Budget leaves the turnover-based betting duty unchanged at 2%. The rate doubled from 1% in 2019.

The Irish Bookmakers Association (IBA) said 222 betting shops have closed since the increase, alongside the loss of approximately 1,000 retail jobs. Ireland currently has 643 betting shops, compared with 1,385 in 2008, representing a 46% decline.

Retail contraction has continued, with 47 shops closing in 2025 and another 41 so far in 2026. Paddy Power also announced last month that it would close up to 100 shops across its estate by the end of 2026, with close to half expected to be in Ireland.

Operators are also preparing for the Social Impact Fund established under the Gambling Regulation Act 2024. The fund will be financed through contributions from licensed operators, although the levy rate has yet to be determined.

IBA Chair Sharon Byrne said: “It's very important it wasn't raised because we aren't sure what level the new levy will come in at.”

The decision comes as Ireland’s betting market continues to shift towards online channels. Online betting turnover exceeded €1.2bn in Q1 2026, the first time it had passed €1bn in a single quarter. Land-based betting turnover fell to €276.5m from €552.4m in the previous quarter, with the IBA linking the decline to continued betting shop closures.