Shares in bookmaker Evoke PLC (LSE:EVOK) fell 13% after it was confirmed that the sector will face higher online taxes, but Gala bingo owner Rank Group PLC (LSE:RNK) jumped 10%.
Remote gambling duty will rise to 40% from 21%, the Chancellor said in her Budget speech, raising over £1 billion for the Treasury.
Rachel Reeves said there will be no changes to in-person gambling or horse racing levies.
Shares in William Hill owner Evoke dropped, but those of Ladbrokes and BetMGM parent Entain PLC (LSE:ENT) and Paddy Power and FanDuel owner Flutter Entertainment PLC (LSE:FLTR, NYSE:FLUT) were up 3.4% and 2% respectively.
Remote gaming duty is associated with the highest rate of harm, Reeves said.
She said the 10% duty on bingo will be abolished, leading to Rank shares jumping.
In a technical note, the Office for Budget Responsibility said spread betting will be excluded from the UK betting duty changes, likely limiting market disruption in retail trading platforms and financial betting services.
Spread betting broker IG Group Holdings Plc (LSE:IGG) saw its shares jump 9.7%, while those in rivals CMC Markets PLC (LSE:CMCX) and Plus500 Ltd (LSE:PLUS) rose just under 3%.
** UPDATE: Adds details, share prices **