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Will The UK Ban Free Slot SPins
Sunday May 8,2016 : THE END OF FREE SPINS IN THE U.K?
British Chancellor's speech is causing a rethink on incentives and rewards.
The British government's intention to tighten tax laws calculated on free plays is reportedly giving online gambling operators already feeling the pain of the p.o.c. tax food for thought on the ubiquitous use of the Free Spin as a marketing, incentive and loyalty tool.
In a speech earlier this year Chancellor George Osborne said that from August 2017 online casino and bingo operators will have to pay tax on free plays in order to bring them into line with the sports book and racing gambling sectors, which already pay tax on discounted and free bets under the General Betting Duty.
Osborne's speech was confirmed by a budget document which noted:
“Remote gaming operators currently benefit from a more generous tax treatment when they offer discounted or free gambling (‘freeplays’) to customers in Remote Gaming Duty than would be the case for operators offering free bets on things like football and horseracing.
“The government will therefore amend the tax treatment of freeplays in Remote Gaming Duty to bring it into line with the tax treatment of free bets in General Betting Duty.”
Whilst the implementation of such changes will initially cost the government around GBP 20 million, it has been estimated it will in the years ahead bring in growing tax revenue that could reach GBP 110 million five years hence...but that's if licensees continue to offer fee plays at the present level, which is unlikely once the new tax provisions kick in.
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Gambling News :
PokerStars.CZ has launched in the Czech Republic -
PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republicís new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.
Sunbets to Sponsor Sutton United -
Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.
Time is Money Slot Launches -
Set to a catchy tune, Time is Money offers a free spins bonus where all wins are multiplied by up to x12 by a random multiplier, selected from the time traveling clock.
ArenaCube Signs 3 New Deals -
Under their strategic partnership, ArenaCube and Kiron will develop and launch a new version of Arena Challenge in 2017. The new version of the game will carry Kironís virtual content.
First Woman to Win a WPT Playground Championship -
Besting a field of 380, in the C$3,500 buy-in event, Zajmovic beat Jean-Francois Bouchard in heads up play, pocketed the C$261,000 first prize and a seat in the season ending WPT Tournament of Champions.
NHL Odds: Oilers-Blackhawks at the United Cente -
Fans at the United Center will be treated to a potential Western Conference playoff preview this Saturday when the upstart Edmonton Oilers visit the Chicago Blackhawks. The puck drops at 7 PM ET on WGN.
2017 Partypoker.net WPT Playground main event Results -
Although she entered the heads up against Jean-Francois Bouchard with a chip deficit, Zajmovic was able to get herself back in the game with some skillful and disciplined playing, eventually overtaking the leader and finally leveraging her chip advantage into a decisive win.
IGT In Deal With Norsk Tipping -
International Game Technology has announced a new contract signing which will see it providing interactive casino and Instant Win game libraries and custom games through a remote game server to Norwegian gambling group Norsk Tipping.
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