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They Don't Like Taxation

A pretty wide-scale protest is going on in the United Kingdom these days as the online casinos and internet gambling companies protest the current legislation in the UK that unfairly taxes UK headquartered gaming companies. The UK taxes on gambling companies actually operating from the UK are astronomically high compared to taxes that these same companies could pay if they move their base of operations out of the UK jurisdiction and into jurisdictions such as Gibraltar and the Isle of Man. Betfair is the largest online casino gambling group on the planet – the company has a stake in nearly every viable internet gambling and gaming market and successfully operates the biggest betting site in the world.

Betfair is stepping up with Ladbrokes and William Hill in protestation of the unfair UK taxes that force UK online casinos to pay as much as ten times more in taxes that other jurisdictions – and there is no actual advantage to paying the higher UK taxes since offshore gambling sites have the same advertising rights and privileges. Ladbrokes made the decision to move to Gibraltar as a result of Will Hill’s decision – with Will Hill being one of the land and online casino gambling group’s biggest competition, Ladbrokes simply has to move offshore if it has any chance of remaining competitive in the market.

Betfair though is now on the same side and is also crying foul that the UK has not yet addressed the discrepancy between UK taxes and those that the online casinos would have to pay in other jurisdictions. Betfair though may not be the best company to complain about the situation considering the internet gambling group turned in stellar quarterly performance results.