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UK to tax online gaming

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UK to tax online gaming

Postby Admin » Sun Aug 06, 2017 8:35 am

The United Kingdom hopes to bring tax revenues by legalizing online gaming

It seems that Britain became in love with online gaming. Besides the popular bookie Bet365, you can find new online casinos and betting sites that offer the exciting chance to bet on your favorite sport without to leave your house.
Betting sites in the UK pay 15% of their gross profits in tax and the proceeds have topped $2.5 billion since 2004, a fact that makes the Government very pleased.

The British Parliament has decided to legalize online gambling and by that to lure offshore companies that are located in Gibraltar, Costa Rica etc. to relocate on British soil and to receive more tax revenues from the gaming business.

According to analysts and advisors, the global online gaming industry is set to double in five years. Britain wants to be ahead of the rest of the developed world because their leaders understood that regulating online gaming is a smarter move than trying to ban it.

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