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Companies Bypass Britain

Criticisms about the new UK Gambling Commission leave some questioning why the Commission is still so large, and secondly, what went wrong with the much lauded Gambling Act 2005. The Commission took control over the UK online casino gambling industry just two weeks ago (September 1, 2007), and already it seems that some of the intended legislation and regulations are failing. A newspaper in the UK, The Guardian, was particularly critical about the number of staff at the Commission compared to the duties the Commission now oversees.

The Gambling Commission was formed as a part of the UK Gambling Act 2005 to address concerns in the online casino industry about regulations and restrictions, and generally as a way to make Britain a more friendly place for internet gambling. As the Gambling Commission came into control over the online casinos industry, new regulations concerning gambling advertising and more also came into effect. These new regulations were aimed at bringing in more internet gambling companies that would choose licensing in Britain as a way to benefit from the new, more lenient, regulations.

Unfortunately for Britain, so far only 14 online casinos have applied for licensing in Britain – and none of the 14 are the major players in the industry. Britain anticipates more internet gambling companies would request licensing, but it seems the high tax rate on revenues means all the major online casinos choose jurisdictions with more reasonable tax rates. Malta, for example, has a 2.5 percent tax on revenue rather than the 15 percent tax in Britain. And because Malta is a part of the European Economic Area, all of the internet gambling sites licensed in Malta benefit from the UK’s new regulations.