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Uk POC Law Awaiting Royal Assent
Sunday April 6,2014 : NEW U.K. POINT-OF-CONSUMPTION LAW NOW AWAITS ROYAL ASSENT
Measure has survived the Houses of Commons and of Lords gauntlet.
In the United Kingdom, the Gambling (Licensing and Advertising) Bill has emerged from the Houses of Commons and the Lords and now awaits only Royal Assent, which is expected in May.
The bill, which is founded on the concept that gambling takes place at the point of consumption, requires all remote gambling operators seeking to access the British punter with their services to take out British licensing and pay British taxes before being allowed to advertise or transact with UK online gamblers.
In a late amendment to the bill, the British horse racing industry should benefit from a requirement that offshore betting companies serving UK punters must pay a levy on gross profits taken on horse racing bets.
However, all may not be plain sailing for the bill, as the publication Out-Law reports:
"Changes to the law, however, may yet be delayed. According to media reports, the Gibraltar Betting & Gaming Association (GBGA) could consider raising a judicial review challenge against some of the proposed reforms. Some gambling operators that provide remote betting services to consumers based in Great Britain have their businesses based in Gibraltar."
The UK Gambling Commission is expected to publish final revisions to its Licensing and Codes of Practice guidelines before the end of this (April) month following extensive market consultations.
Check out the route of this legislation so far: http://services.parliament.uk/bills/2013-14/gamblinglicensingandadvertising.html
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Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
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Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
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Singapore Online Gambling Ban Begins -
Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.
Pennsylvania Online Gambling Updates -
Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.
WSOPE In Czech Republic -
World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.
BtoBet Partners with AfroBet -
Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.
Pissed off Tabcorp shareholders -
A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.
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