Top US Online Casinos
1. Jumba Bet Casino - $25 No-Deposit Bonus Plus a $1,200 Welcome Welcome package.
2. Bovada - Best bitcoin casino and massive welcome bonus worth 100% up to $3,000 Free.
3. Lucky Creek - 66 Free Spins Plus 166% up to $266 Free.

Changes in UK Internet Casino Licensing May Herald Change in Gaming Taxes

3 August 2011 by admin

Recently the UK has been in the online gambling news for the overhaul it is giving to its online casino and online gambling operations legislation, and we here at onlinecasinosuite.com have been following it to bring to you. It is believed that the start of the overhaul to their online casino licensing was twofold.

On one hand Full Tilt had had their license of operation suspended by Alderney. While Alderney is independent of the UK, it brought overseas regulation into the UK limelight. And that brings us to the other hand for the recent overhaul to the UK’s online gambling legislation, which can be summed up by Evolution Securities Analyst James Hollins: “The suggestion that offshore operators are not ‘bearing a fair share of the costs of regulation’ firmly implies, in our opinion, that taxation will become part of the new legislation.”

The UK is in the process of drafting new legislation to regulate its online casino operations. Within the last year several major operators moved their operations to other jurisdictions to avoid a higher tax rate in the UK. Among those that jumped islands were William Hill, Bwin.Party, Ladbrokes and Betfair. Currently the UK only taxes online gambling operators that are located within the UK. But that may be about to change.

Most forms of online casino regulation have operators paying a licensing fee and taxes to offer their online gambling services within a country. The operators can be located wherever in the world, but their legal, regulated operation in a country is based their license to operate within regardless of where they are based. Compared to the rest of the world, the UK was effectively offering a sort of loophole since operators could avoid taxation for being located outside the UK.

As more developments occur in the UK’s overhaul to their online casino regulation legislation and taxation, we here at onlinecasinosuite.com will keep our readers posted. We shall see if the UK moves to a more standard form of regulation and gambling taxation similar to other regulating bodies.

Comments are closed.