The new British gambling act will soon come into force after the Queen gave her royal assent to the bill. This new law is the first change since 2005’s Gambling Act, with the major talking point being the Point of Consumption (PoC) tax.
That tax means that any gambling company doing business within the UK has to apply for a license in the country and pay tax on all transactions within the country. This is the single biggest change to UK gambling laws since the Gambling Act of 2005 saw all those big brands flee the UK for Gibraltar, Malta and other tax havens.
From now on, casinos and online sportsbooks in the UK will have to pay a 15% tax on all their UK customers, while their advertisements will also be under more scrutiny, too. That’s not all, though, as the act gives the Gambling Commission far more authority over all operators trading in the UK.
Help to Counter Match Fixing
Gambling companies will also have to contribute, both financially and academically, to the prevention, education and treatment of gambling problems in the UK. On top of this, any suspicions of illegal betting practices will need to be reported to the Gambling Commission immediately.
Minister for Sport, Helen Grant, said on the new law: “This Act marks a significant step in increasing protection to consumers based in Great Britain by ensuring that all remote gambling operators will be subject to robust and consistent regulation.”