The big news for players last week, at least if you’re in the UK, was that the new laws regarding taxation on the gambling industry came into effect on 1st December. If you’re not familiar with the changes, then we’ll keep it simple as we’re far more concerned with the overall impact of the changes than the changes themselves!
In essence, the bill has been worked on since the beginning of 2014 as the government looks to change the way the industry works from a tax perspective. Effectively, they wanted to change taxation due on operators from being based on ‘place of supply’ to ‘place of consumption’. In layman’s terms, that means that tax would be due on where the players were based rather than where the operator was physically located.
Some of the country’s biggest brands, like Ladbrokes and Betfair, moved their operations to jurisdictions that were a little easier to handle in tax terms, with the likes of Gibraltar and Malta being popular choices. However, with the changes that have come into effect, casino brands now need a UK gaming license to operate and will have a 15 percent levy applied to all gross profits from online gaming in which UK players are involved.
Sajid Javid, Secretary of State for Culture, Media and Sport, sums up the government view, saying: “It is unacceptable that gambling companies can avoid UK taxes by moving offshore and the government is taking decisive action to ensure that this can no longer happen. These reforms will ensure that remote gambling operators who have UK customers make a fair contribution to the public finances.”
What the New Regulations Mean for Players
The UK is regarded as being one of the very best places to be if you’re a fan of online gaming and in truth, the new regulations will do little to change that. In practical terms, it has seen the loss of some of the big name casino brands such as Royal Vegas, All Slots and StarGames. However, the fact of the matter is that there are so many great casino brands out there, all offering the biggest and best games, that while some names will be missed, there are plenty of great casinos out there that still offer everything any player could want.
Microgaming fans, for example, may well have held accounts at Royal Vegas or All Slots. With those casinos out of the picture, you will need to look elsewhere but the good news is that you’ll discover equally top notch entertainment with casinos like 32red and GoWild, which are continuing to operate as normal.
We’ve recently updated our Online Casinos main page to reflect the impact of the new legislation. There, you can see at a glance our most highly recommended casinos together with restricted countries and the developers that are on offer.
Overall, no matter who makes your favourite games, you can still play them here in the UK. The impact of the new rules is on the operators, not the players and while you may need to register a new account, that’s about all that has changed! Check out our recommended casinos now for the best places to play the top games in the UK and beyond!