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Gambling in the UK Overview: 4

Although the UK online casino gambling market has been very lucrative thanks to the liberalization of the gambling laws over the past two years there have also been quite a few issues that have held back some companies from really reaching their full potential. Namely the harsh taxation structure has really had a negative affect on the land and online casinos that have struggled just a bit during the economic recession to generate enough profits to stay competitive with internet gambling companies that are licensed and operating out of other European countries and licensing jurisdictions. The UK has some of the highest internet gambling taxes in the world and the online casinos are actually starting a mass exodus of the gaming market as a way to protect their business and increase their competitive advantage.

The two biggest gaming companies in the UK, as already mentioned Ladbrokes and William Hill, announced just this month that the online casino gambling sites plan to leave the UK licensing jurisdictions specifically because of the astronomically high taxes. These companies though plan to certainly still operate in the UK market – this is where the companies dominate in the online casinos and will continue to remain dominating once they are paying lower taxes.

The tax difference in Gibraltar are actually so much more competitive that the land and online casino gambling companies can justify the fairly expensive costs associated with switching the location of their headquarters. The moves are expected to take place by the end of the year and the exit of these two gaming companies will really change the landscape of the UK gambling industry from the government’s point of view – the government will lose a good deal of revenue once Ladbrokes and Will Hill stop paying taxes directly to the UK government.