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December 2014 implementation of new Brit betting tax

Monday August 26,2013 : U.K. POINT-OF-CONSUMPTION GAMBLING TAX A 'SEISMIC SHIFT' FOR THE INDUSTRY?
 
December 2014 implementation of new Brit betting tax could see companies moving to mitigate tax implications.
 
Quoting a number of industry analysts, CNBC claimed at the weekend that online bookmakers are moving into Europe and Australia to offset potential losses from an upcoming U.K. gambling tax, which could cause a "seismic shift" in the industry.
 
The end-2014 introduction of the 15 percent tax and secondary UK licensing on all internet gambling firms wishing to access the British punter will hit major U.K. bookmakers like William Hill and Ladbrokes, which operate online gambling divisions from Gibraltar, where taxes are currently levied at 1 percent and capped at GBP 425,000, CNBC noted.
 
And it could change the make-up of the gambling industry, with smaller bookmakers potentially forced out of the market, analysts opined.
 
David Jennings and Simon McGrotty, gaming analysts at Davy Research, said in a research note: "The introduction of the POC tax is likely to cause a seismic shift in the competitive landscape of the U.K. online gaming market."
 
Widespread media reports over the past few months as the advent of the new UK regime looms larger have revealed that major gambling groups based in former "white list" jurisdictions like Gibraltar, Isle of Man, Alderney and Malta are lobbying for a more reasonable tax rate and threatening to fight the new laws on grounds of non-compliance with EU principles
 
Several reports have it that Gibraltar-based online firms have contributed to a half-million pound war-chest if litigation becomes necessary.
 
But there may be other ways to reduce the impact of the new tax.
 
"According to research from Citi analysts James Ainley and Josh Lipman, bookmakers may be able to offset the impact of the tax hit by around 70-to-80 percent," CNBC reports.
 
Apparently this can be achieved by relocating to Europe or Australia and diversifying earnings streams to help mitigate the POC tax.
 
In this regard Europe, particularly Italy and Spain, could be attractive due to its large market size, high propensity to gamble, favourable taxation and low penetration of online gambling to date.
 
But Australia may be a good option too, because about 85 percent of the market is dominated by three players, compared with the U.K., where the top five companies account for 55-60 percent of the market.
 
In Australia, the sports betting market is growing at 3-to-4 percent per annum, one analyst pointed out to CNBC, noting that William Hill and Paddy Power have already established strong online presences in the region.
 
David Jennings of Davy Research said that although the Australian government has banned online casinos, poker and live sports betting, there was a good chance that such regulation could soften.



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Michael Myers is back in Halloween Slot Machine - Get ready for a blood-curdling adventure with Microgaming’s latest offering – Halloween Follow Annie, Lynda, Doctor Loomis, and our heroine Laurie as they try to survive the ultimate horror movie villain, Michael Myers.

Joe Fortune new Rewards Program - Once you sign up, you’re automatically enrolled in the rewards program – and that’s when the epic journey begins. You’ll start earning Adventure Miles immediately, and can embark on the quest of a lifetime: To get paid to play, which stays true to the rewards program’s slogan, ‘Play More Get More’.

Day 1a MPN Poker Tour Tallinn Main Event - Day 1a brought 106 entries into the €550 Main Event, with nearly as many players turning out for the last €35 super satellite into tomorrow’s Day 1b

NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday - Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.

Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.

Mega Moolah strikes again - The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.

2 New Slots For Microgaming Casinos - David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.

MLS Odds: Red Bulls vs. Whitecaps - The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.

Velka Pardubicka On RacingUK - Felix de Giles flies the British flag in Sunday’s Velka Pardubicka

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