"Analysis by CasinoBeats suggests that offshore casino gambling has its advantages. The site's Wilna van Wyk argues that foreign sites can offer British gamblers more games, a wider variety of payment options, and larger payouts. She also points out that, while the sites do not have a UK license, they are regulated by various international gambling authorities. This could prove to be a problem for British gambling sites, though."
"With the industry facing tax rises, this could lead to a drop in winnings, which could, in turn, send players overseas. A recent study found that 70 per cent of the European Union's gambling spend goes on sites which are not licensed by continental authorities. While the figures for how much of the UK's gambling goes overseas are not available, it seems reasonable to assume that the figures are not too dissimilar."
Government proposes raising betting duty, either standardising shop tax to 21% from 15% or overall rises with shops up to 25% and websites and slots up to 50%, potentially effective after November budget. Tax rises could reduce operator winnings and incentivise players to use offshore sites that offer more games, payment methods, and larger payouts and are regulated by international authorities. A study found about 70% of EU gambling spend goes to sites not licensed by continental authorities, suggesting similar UK patterns. British operators may cut profit margins or increase jackpots to retain customers, a move unpopular with shareholders. Horse racing could suffer significant impact.
Read at London Business News | Londonlovesbusiness.com
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