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Online Casinos Paying their Share

It’s been a couple of weeks since our last update about the UK’s attempt to level the playing field in the market so that offshore operators are forced to also contribute to the high taxes that UK licensed online casinos have had to pay for several years now. The defining moment over the last year was the announcement that several major UK brands, Will Hill and Ladbrokes, were moving the internet side of their business offshore because of the discrepancies between what UK companies were forced to pay and what the foreign operators were paying into the UK taxes. Offshore operators currently have all of the same advertising freedoms as UK licensed online casino sites, but they pay significantly lower taxes to operate out of jurisdictions such as the Isle of Man, Alderney, or Malta.

The UK lost a lot of potential revenue with the exit of these major land and online casino gambling groups and their move almost immediately prompted the UK Sports Minister and Gambling Commission to consider changes that would level the playing field. Initial announcements indicated that the UK government was considering altering the taxing structure so that foreign licensed sites were also paying part of the UK tax burden. That policy is now firmly the primary choice for the government and looks like the current plan of action.

But UK licensed online casinos who also operate within the land gambling industry feel that this is still not adequately addressing the issue that UK licensed and operating companies face incredibly high (and in some cases double) taxes on their gaming revenues, and the high taxes are making it incredibly difficult for the companies to maintain profitability; there is little hope that this is the most effective solution according to many affected gambling groups.