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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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Ninja Power Slot Launched By Slotland -
I think our players will be inspired by the ninja warrior characters the game designers have created,” said Slotland manager Michael Hilary. “These warriors fought hard, gave it all they had. Quitting wasn’t an option.
WILL JACK LAM RETURN TO THE PHILIPPINES TO TURN HIMSELF IN? -
The Philippines online gambling and bribery scandal keeps throwing up new developments almost daily, with the latest a report that Macau-based online gambling tycoon - the man at the centre of the furore - has put out tentative "surrender" feelers.
Stephen Conroy appointed head of new responsible gambling grou -
Conroy retired from politics in September after a 20 year career, and has now been appointed head of Responsible Wagering Australia, a new responsible gambling industry body backed by online gambling operators CrownBet, Sportsbet, Betfair, Unibet and Bet365.
SquwaKa To Enter sports betting sector -
Football digital content platform SquwaKa will be entering the sports betting sector with the launch of a new FSB Technology built and powered sports betting service to sit alongside its fantasy sports offer.
RaceBets Acquired by Betsson -
Niche operator #RaceBets complements #Betsson offering with a proprietary horse racing product and an experienced horse betting trading team.
Playtech buys back 780,000 shares -
Playtech's advisory earlier this week that it is to embark on a Euro 50 million share re-purchase initiative has been quickly followed by a notification from the company that it has bought an initial tranche of 780,000 shares at prices ranging between 797.75 and 816.63.
Cash In Roulette -
The relatively new online gambling games developer Be The House, has announced that it is to launch its unique Cash In Roulette product with William Hill Online.
EveryMatrix in game deal with Endorphina -
#EveryMatrix Prague-based online slot developer Endorphina has found a new outlet for its games, signing a content supply agreement with white label provider EveryMatrix.
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