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SECOND HEARING FOR UK ONLINE GAMBLING REFORM BILL
02/09/2012 : SECOND HEARING FOR UK ONLINE GAMBLING REFORM BILL
"Point of Consumption" Bill proposed in House of Commons
A bill covering the taxation of offshore bookmakers introduced by Conservative MP Matthew Hancock was heard in the House of Commons earlier this week and has been given a second reading scheduled for March 30, 2012.
The bill looks to the reform of the UK Gambling Act 2005 and proposes that all bookmakers servicing the UK market be forced to apply for a UK Gambling Commission licence and pay taxes on revenues. Additionally, it proposes the elimination of the Horse Racing Levy.
While weighted towards the decline in horse racing revenues, the proposal would affect all forms of online gambling and seeks a taxation model based on customer location rather than the physical location of the company offering the services.
The bill was opposed by fellow conservative MP Philip Davies who argued that increased regulation would result in a surge towards players seeking illegal market operators although he conceded "a single digit tax system of 5 percent across the board would be better than trying to collect 15 percent from none of them".
“I look forward to making the case for reform to the system and helping secure a future for racing. Horseracing supports 100,000 jobs countrywide including 5,000 in my constituency town of Newmarket,” Hancock said.
“Everyone should welcome a level playing field for gambling and racing here in the UK ".
Hancock introduced the bill to the House of Commons under the "10 Minute Rule", which gives the author the opportunity to present the bill and convince the House members on its merits in ten minutes. It is the latest in the UK Government's previously communicated interest in reforming the Gambling Act of 2005.
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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