British Government on Online Gambling

There are various firms in and around the world that are engaged in the world of online gambling. Gibraltar is one such organization which is becoming one of the most preferred destinations for online gambling, serving the British customers. But, according to the latest news, British government threw a curve ball at Gibraltar by creating a new tax rate for all the casino players using Gibraltar based websites.

online gambling by British government

Increasing the tax rates

The Gibraltar officials are upset, as Prime Minister has come up with a plan of raising the tax rate from one percent to fifteen percent. The internet gambling market is gaining a lot of popularity among the gamblers who prefer playing casino games on the internet. Gibraltar has a large portion of licensed online companies serving gamblers with their most effective gambling games. But if this plan goes through as planned, it might cripple the Gibraltar officials.

More latest facts

Apart from increasing the tax rate from one percent to fifteen percent, it is also being planned that the sites being served by Gibraltar are required to hold a British license, apart from having the local license, if they wish to take bets from British customers. Moreover, it is also advised for Gibraltar to make their own rules and regulations but they should be made keeping in mind the British gambling law.

UK – one of the groundbreaking areas for gambling

UK is one of the most preferred places where people love online gambling. Gibraltar has become the hot spot for most of the operator’s serving as online gambling. Some of the Caribbean territories engaged in online gambling are

  • Costa Rica
  • St. Thomas
  • Panama

Trying to create a balance

According to a source, the government of UK is also attempting to create a balance between the land-based casinos and the online casinos.