New UK Committee on Online Gambling Regulations

02/28/2012
By Tommie ClarkGoogle

Various aspects of online gambling regulation and taxation are being examined by a special committee of British Parliament members.  Among the proposals being discussed are new regulations for offshore casinos, secondary taxation, secondary licensing, new taxation, new land-based casinos, and betting machines.  The committee is still in session and not all the proposals have reached conclusion.

 

Recently, two former ministers spoke before the committee: Tessa Jowell, the former Culture Secretary, and Caborn, the former Sport and Tourism Minister.  They explained to the committee that two proposals, the construction of five super-casinos and the installation of betting machines, have already been shot down.  They explained that there is no reason to believe they are going to make it passed parliament as long as the Labour Party’s fears of problem gambling remain unabated.  More industry experts are invited to testify before the committee.

 

William Hill, the popular bookie and online casino game site, hired Deloitte, one of the world’s largest accounting firms, as an independent third party to survey the possible outcomes of the proposed tax hikes.  The firm concluded that raising taxes on the legitimate online casino operators gives a leg up to the illegitimate ones.  The taxes will inevitably impair the ability of the taxed to compete with the untaxed.  Furthermore, while the top online casinos may succeed the unfavorable circumstances, the smaller casinos will surely fail.  The negative consequences are not the burden of the online casinos alone; all the industries tied in with the online casinos, like high-tech and sports, would take a hit as well.  The Deloitte survey has been given to the Treasury to be reviewed.

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