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Brown reviews exchange trade.

Europe Intelligence Wire

| March 18, 2004 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(From Newsletter)

Byline: ANITA CHAMBERS

Chancellor Gordon Brown's announcement of a review into the tax treatment of Internet betting exchanges and their clients was welcomed by traditional bookmakers yesterday.

The popularity of betting exchanges - at the centre of recent controversies in the world of horse racing - has soared in recent years, with around 250,000 British punters attracted by their simplicity and good prices.

But traditional bookies complain they are not competing on a level playing field in terms of the way they are taxed.

Betting exchanges act as brokers, matching people with opposite views on a sporting …

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