LiveScore Bet Cites UK Budget for Closing Down Bulgaria Operation

LiveScore Bet will be leaving the Bulgarian market, and the UK is being held responsible for its exit. The sports betting operator has announced it will cease to trade in Bulgaria by the end of 2025, and that is largely down to the impact of last month’s UK budget.

Indeed, the group has revealed that they are facing fresh challenges in the wake of the budget. Although there is more regulatory uncertainty across Europe more generally, the UK government has put in some stringent gambling tax measures, which have ultimately forced LiveScore’s hand.

Budget fallout

The UK budget last month caused a lot of friction, especially from a gambling perspective, given the contents of it. Indeed, Remote Gambling Duty (RGD) was bumped from 21% to 40% of gross profit, which will come into effect in 2026. General duty paid on online sports betting, meanwhile, will jump from 15% to 25% in April 2027.

Like many of its competitors, LiveScore Bet, which launched in the UK in 2021, has a casino arm to its business. Moreover, it has flexed its muscles in other European markets, and tough decisions have now been made.

LiveScore shines a light on matters

Although LiveScore Bet has been spreading its influence across Europe, the company didn’t mince its words in blaming the UK for causing it to change tack. A statement shed more light on the matter.

It read:

“LiveScore has confirmed the withdrawal of its LiveScoreBet brand from Bulgaria, with operations set to formally cease by the end of 2025.

“The decision is a strategic mitigation following the UK government’s 2025 Autumn Budget, which saw significant increases to both Remote Gaming Duty and General Betting Duty. Furthermore, the exit decision considers the uncertainty in Bulgaria’s own regulatory landscape, with a potential tax rise on the horizon to reduce the national budget deficit.

“The refocusing of resources ensures LiveScore Group remains robust and agile for the future. All impacted people have been informed and are now subject to a confidential process, while an exercise is underway to inform all LiveScore Bet customers in Bulgaria.”

A sign of things to come?

LiveScore isn’t the only UK betting site facing challenges. More of its rivals find themselves in the same boat with how to navigate business operators in a post-Budget world.

Recently, it was reported that Evoke, William Hill’s owner, was exploring the possibility of either selling the group or dividing up its business assets. The company sought the advice of banking powerhouses Morgan Stanley and Rothschild to carry out a full strategic review, but no decision has been made.

Meanwhile, from a retail perspective, BOYLE Sports revealed last month that it would help Paddy Power staff affected by the prospect of redundancies by offering interviews to all those affected. Paddy Power, it is worth noting, previously suggested it could close as many as 57 shops across the UK as a result of the budget.

In the case of LiveScore, it has been proactive. It is thought, however, that LiveScore ambassador and ex-Manchester United star Dimitar Berbatov, who is of Bulgarian descent, is set to continue in his role. Berbatov is a European ambassador for LiveScore as opposed to just being a Bulgarian ambassador. Whether other operators end up pulling back on their commitments abroad remains to be seen.