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Offshore Online Casinos at Advantage

One of the UK’s oldest and most profitable online casino gambling companies has decided to move its headquarters offshore as a way to take advantage of better tax laws and regulatory structure in foreign licensing jurisdictions. The UK has very liberal gaming policies in place but at the same time, the current regulations but UK licensed gaming companies at a distinct disadvantage to foreign gaming companies that still have access to and compete within the UK market. Ladbrokes pays a lot of money to the UK government in taxes on gambling income and can be paying a whole lot less with a relocation to the island of Gibraltar – and the move wont cost the company loss of any of its market share or advertising priviledges in the UK market.

Ladbrokes is not the first of the UK online casinos to make this move. In fact, Ladbrokes is following suite after it’s major competitor in the UK market, William Hill, actually made the move offshore as well. There is simply a competitive advantage to moving offshore for the online casinos. The UK has some of the highest gambling taxes in the world and the gambling companies are loosing the ability to stay competitive and offer great incentives and deals to its gamblers.

The move should take place by the end of the year according to the CEO of Ladbrokes, Christopher Bell. Another key factor prompting the move is the current economy. With the economic crisis still in full swing, online casinos do not hold as much of a profit advantage as they once did. Profits are decreasing and the large UK taxes are taking a toll of Ladbrokes’ long-term sustainability if it remains located out of the UK.