Britain Seeks to Tax Offshore Gambling Sites
Posted: May 9, 2012
Updated: October 4, 2017
UK government is seeking to tax those offshore online casinos and sportsbooks which offer betting access to the British residents.
The British government is already regulating and taxing those online casinos in United Kingdom that offer their services to gamblers. Now, the government is looking to tax those offshore sites which provide access to the British clientele.
This has sparked widespread protests in offshore locations such as Gibraltar, an online gambling mecca. As many as 5,000 people are employed in the gaming industry in this small British protectorate, and it worries the residents that the move may affect the competitiveness of Gibraltar, and thus, the jobs.
Moreover, those offshore sites that provide ways to bet on sports in UK are likely to be taxed if the British government enforces its will.
Even though the British gambling laws are quite liberal, the growth of online casinos and sportsbooks is worrying, even annoying, many.
First, there are anti-gambling advocates disliking the fact that bettors can now access gambling with ease via computers, mobile phones, and betting shops. Second, land-based shops, especially sportsbooks, are fearing the growth of online sports betting and seek expanded operating hours, which annoys even more the anti-gambling establishment which claims that all this growth in Internet wagering damages the well-being of the British citizens.
Many land-based shops, whether casinos or bookmakers, which failed to get early on the Internet, now desperately try to salvage their businesses by seeking to start their own mobile casinos in UK.
Truth is, the betting industry is too well entrenched in Britain to let its interests get hurt. What Britain can do is regulate these so only quality, legitimate betting shops, whether online or land-based, can continue to operate and prosper. Competition for bettors’ pounds is fierce and heating up even more.