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UK changing rules to get internet casinos back

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Stock Image: Casino Examiner

The United Kingdom has seen numerous Internet casinos and online texas hold em websites such as Ladbrokes and Victor Chandler leave Britain in search of more favorable taxation.  Many of these companies have fled to Gibraltar, Costa Rica, and Malta since they are taxed less, or not at all in some cases.  So the UK is attempting to create a more level playing field where all online casinos are taxed the same regardless of whether they’re based offshore or in Britain. 

One of the steps that the UK is taking to make this vision a reality is white-listing; this process involves approving gambling companies for the rights to advertise their services in England as well as adjusting taxation laws to get Internet casinos back in their country.

One roadblock in their attempts to lure companies back is the requirements set forth by the European Union with regards to online gambling.  The EU has rules in place calling for high taxes on gambling companies, and other measures making it difficult for these businesses to operate in countries that frown upon Internet gambling such as Germany and Holland.

Event still, the UK is adamant about putting a plan in place that will make Britain’s tax laws more in accord with offshore gambling safe havens.  Sports Minister Gerry Sutcliffe is currently reviewing a list of recommendations so he can come up with a complete plan.  Besides lower taxes, one of the recommendations he is currently reviewing involves English professional sports leagues, which want a share of the gambling profits being made by betting on their sports.

As for the other issues he’s reviewing, Sutcliffe has yet to release this information, but he has stated the plan will include plenty of measures to make the UK a more attractive place for gambling companies to operate from.

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