Joined Together for Online Casinos
The United Kingdom’s online casino gambling industry is in for some very rapid
changes as the government discusses the changes that have been long needed in
the country. The UK has some of the most advanced gambling regulations in the
world – the entire market is completely liberalized and gambling sites are given
incredible opportunities to even advertise with the UK market. But there are
some very serious issues that the online casinos themselves have had with the
advantages that the UK system naturally put in place for offshore licensed
gaming sites. UK licensed gambling companies have been forced to pay incredibly
steep taxes on their gambling income whereas foreign licensed companies were
comfortably sitting offshore paying lower taxes and still having full access to
UK gamblers.
The previous UK government that was just replaced in the recent elections was
very keen on making adjustments to the UK online casino gambling regulations as
a way of keeping these UK licensed companies from leaving the market – already
the UK has lost huge portions of revenue when Will Hill and Ladbrokes moved
their internet divisions offshore to Gibraltar. The recent Thought Leadership
Seminar was the first time that it really felt like the UK government might
effect some changes in the market. The Seminar last week allowed the executives
from gambling companies to connect with the UK officials and discuss potential
changes to the UK regulations and how they will alter the UK’s relationship with
offshore and domestically licensed online casinos.
The Seminar was really a great success for all of the parties involved and
through the use of a moderator to shape the discussions all parties left with a
lot of knowledge and the online casinos were also able to give back their
perspective. |