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UK Gambling Laws Set To Change

admin — Thu, 21 Jul 2011 16:52:53 +0000

The Chancellor of the Exchequer, George Osborne, announced plans to drastically change the way that gambling companies are license in the UK in a speech made in the House of Commons yesterday.

The Chancellor is building on statements made by John Penrose (the minister responsible for gambling policy) last week, which is likely to lead to a reform of how gambling companies in the UK are licensed. Analysts expect these changes will be made in order to make the legislative process of increasing gambling taxes in the UK much easier.

Currently, offshore gambling companies which accept punters from the UK are completely untaxed, while onshore gambling operators are taxed 15% in addition to VAT. This unpopular, heavy levy on profits is why all of the UK’s major bookmakers including William Hill, Ladbrokes and Bet365 are based outside the UK in Gibraltar. In Gibraltar, all betting companies only have to pay a 1% tax, giving them a huge competitive edge over any operators licensed in the UK.

The current UK gambling tax laws, which relaxed restrictions in 2005 by the Labour Government (allowing gambling operators to promote their services on TV ads and media in the UK) was seen as the pinnacle formula for how gambling operators should be regulated around the rest of the world. Any operator could provide services in the UK without a UK Gambling Commission license provided they were licensed wherever they were based. However, recent shutdowns of US poker rooms and in the US, combined with a reform of gambling legislation in Italy, has inspired the UK government to reform their own tax policies and hope to earn addition tax revenue under the backdrop of the economic climate.

Some gambling analysts and representatives have been frustrated by the government’s announcement of the change in UK gambling law. The announcement was veiled under the idea of “consumer protection” from the department of culture, media and sports. However, the gambling tax reforms are transparently more about money and allow the government to earn more revenue from gambling companies as opposed to protecting consumers. The tax laws will effect all types of gambling, including bingo bonus sites, sports betting, poker and casinos.

After news of the UK gambling law plans went global, shares in many of the UK’s leading betting firms decreased. William Hill and Betfair’s shares both fell by around 4%, while Ladbrokes price fell 1.2%. Never the less, if the reform in UK gambling continues, all gambling operators are expected to work together to lobby ministers for lower tax rates and more favourable terms.

Font, size and color H1 tags

admin — Sat, 06 Mar 2010 18:54:39 +0000

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Bingo Rankings

admin — Sat, 06 Mar 2010 18:52:21 +0000

Finding the right online bingo site to play on can have a huge impact on the enjoyment you get from participating in online bingo games. Nowadays with huge growth the online bingo industry has seen the amount that can be won is huge. Bingo sites are fighting with each other for your custom and many are offering great sign up bonuses, loyalty programs and free to enter games to entice new online bingo players through their virtual doors.

On BingoRankings.Co.Uk we rank all bingo sites by a number of important factors, which should make your job of picking a online bingo site to play at much easier. On top of helping you find a new home for your online bingo play we also provide you with the latest online bingo news and online bingo promotions.As an avid online and offline bingo player myself I review each site with a fine tooth-comb before listing them on my portal. In addition to the reviews listed here I also write the “how to” guides and other important articles which may help you with specific bingo related questions such as;

“Which Online Bingo Site Accepts Visa?”

“How Do You Play 90 Ball Bingo?”

In a recent redesign of the site I have decided to add the ability for players to rate a bingo site and add their own “reviews”. You can find this feature by visiting a sites review page, such as “Foxy Bingo Review” and at the bottom you will find a text box to enter your review as well as a box to “rate the site in review” out of a 10 stars. Hopefully this new feature will help you make a much more insightful decision in which online bingo site is for you. Aside from this online bingo review site I also have some other sites on various gambling related subjects such as online poker, which focuses on UK poker sites and online casino, which focuses on the UK online casino market.