Online Casino Transfer: News - UK's DCMS Report

01/16/2010		Online Casino Style: News UK's DCMS Report - 1
Home History Games News Dictionary		The long-awaited for report from the UK’s Department of Culture, Media, and Sport on the online gambling industry has finally been released to both the public and the press, with the content giving plenty for the internet casino community to debate and comment on. Though the report is only an analysis, it does contain recommendations, many of which revolve around the tax system set up for the casinos, and placing into question the mortality of the tax advantages for being located offshore. A large portion of the report also reflects on the extension of regulations set up to protect UK residents from the risks involved with the online gambling industry, as well as the future of the horse race sector in particular. Levies are by far and large the most lengthy topic, from the taxes on horse races to the white-listed jurisdictions, reigniting arguments that had settled by the end of the year. For example, many online gambling companies have moved to what are called ‘white-listed’ jurisdictions, territories of the UK that allow for regulation, and are green-lighted for the companies there to advertise in the UK markets. The advantage, however, comes in their ‘offshore’ location; firms based out of the Isle of Man, Gibraltar, Alderney, Malta, Tasmania and Antigua do not have to pay UK taxes on bets, nor are they responsible for the UK Horserace Betting Levy. For these reasons, 2009 saw an exodus of internet casinos to the regions, setting themselves up to succeed competitively against business rivals. According to the report, sports minister Gerry Sutcliffe may well be on a mission to upset the happy medium, driven by complaints issued by UK companies. He as put forth new proposals that would mandate new licensing requirements for offshore companies wishing to remain ‘white-listed.’ Sutcliffe has said that he is dedicated to making sure that all online gambling companies that offer bets for horse races pay the Horserace Betting Levy, calling it “their fair share.” "Online gambling has changed significantly in recent years with many European countries taking new approaches to regulation," Sutcliffe says. "It would be wrong of us to stand still where things are changing around us - especially where the protection of British consumers may be at stake. The new system will also ensure that all businesses offering online gambling to our [UK] consumers adhere to our rules - not someone else's.” to be continued in UK's DCMS Report - 2

01/16/2010

Online Casino Style: News
UK's DCMS Report - 1

The long-awaited for report from the UK’s Department of Culture, Media, and Sport on the online gambling industry has finally been released to both the public and the press, with the content giving plenty for the internet casino community to debate and comment on. Though the report is only an analysis, it does contain recommendations, many of which revolve around the tax system set up for the casinos, and placing into question the mortality of the tax advantages for being located offshore.

A large portion of the report also reflects on the extension of regulations set up to protect UK residents from the risks involved with the online gambling industry, as well as the future of the horse race sector in particular. Levies are by far and large the most lengthy topic, from the taxes on horse races to the white-listed jurisdictions, reigniting arguments that had settled by the end of the year.

For example, many online gambling companies have moved to what are called ‘white-listed’ jurisdictions, territories of the UK that allow for regulation, and are green-lighted for the companies there to advertise in the UK markets. The advantage, however, comes in their ‘offshore’ location; firms based out of the Isle of Man, Gibraltar, Alderney, Malta, Tasmania and Antigua do not have to pay UK taxes on bets, nor are they responsible for the UK Horserace Betting Levy. For these reasons, 2009 saw an exodus of internet casinos to the regions, setting themselves up to succeed competitively against business rivals.

According to the report, sports minister Gerry Sutcliffe may well be on a mission to upset the happy medium, driven by complaints issued by UK companies. He as put forth new proposals that would mandate new licensing requirements for offshore companies wishing to remain ‘white-listed.’ Sutcliffe has said that he is dedicated to making sure that all online gambling companies that offer bets for horse races pay the Horserace Betting Levy, calling it “their fair share.”

"Online gambling has changed significantly in recent years with many European countries taking new approaches to regulation," Sutcliffe says. "It would be wrong of us to stand still where things are changing around us - especially where the protection of British consumers may be at stake. The new system will also ensure that all businesses offering online gambling to our [UK] consumers adhere to our rules - not someone else's.”

to be continued in UK's DCMS Report - 2