Podbit · The iGaming Leader
Savvas makes a pointed argument: the UK government explicitly accounted for £500,000 flowing to the black market as a result of the tax, and accepted it. That means vulnerable players will land in front of unregulated sites with no AML, no safer gambling tools, and nobody watching.
Where this was said
At 36:30 · chapter starts 31:15
MrQ had scenario-planned the tax rise up to around 32%. When 40% landed, the first reaction was disbelief — not just at the number, but at the government's apparent failure to consult meaningfully or model consequences. The initial emotion was pure shock. Savvas describes a period of sitting with it, mourning, brainstorming, and then forcing the pivot to action. Very quickly, he was on an all-hands call: this happened, this is what it means, this is our mitigation plan. One of the most painful mitigations was reducing RTP — from 96p to approximately 94p per pound wagered — a move Savvas had deliberately avoided for years, holding it in reserve as a competitive ace. The tax change made it necessary. But framing matters: Savvas positioned the tax as a common enemy, one that would sort the industry into winners and losers, and MrQ's bootstrapped cost discipline and honest brand positioning made it more likely to land in the winner column. The government comes in for pointed criticism — not just for the policy but for the framing of it as 'just asking the industry to pay a little bit more.' A 90% revenue tax increase is not a little bit more.
MrQ's internal scenario planning for the tax rise only modelled up to approximately 32%, leaving the company unprepared for the 40% outcome.
The UK government raised the gambling revenue tax from 21% to 40% — a 90% increase on revenue — shocking operators who had expected 25%.
MrQ was forced to reduce return-to-player rates, meaning players now receive roughly 94p back per £1 wagered instead of 96p, to cover the tax increase.
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