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UK May Introduce New Online Gambling Licenses

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Despite the fact that the UK is widely considered one of the most
forward-thinking countries in the world regarding the legalization and
regulation of its online gambling industry, it is not without its
problems which the government is currently seeking to solve.

According to reports, the UK government is considering introducing a tiered
system of licensing for online gambling operators that target UK gamblers.
This stems from complaints that offshore online gambling firms are not exposed
to the same levels of regulation as UK-based firms.

As proof of this, earlier this year two of the UK’s biggest land and online
betting giants, Ladbrokes and William Hill, relocated their headquarters to the
tax-friendly online gambling jurisdiction of Gibraltar, a move that will
ultimately cost UK government tax coffers £4.2 million a year.

And although the government was aware that these ‘defections’ would have a
negative impact on the UK horseracing industry, it did not lift a finger to
address the high online gambling taxes and levies that forced the two gambling
giants to seek greener and more tax-friendly pastures.

But now it seems the government may have finally woken up and is seeking to
review and improve its current online gambling licensing laws with the aim of
‘levelling the playing field.’ This means UK-based online gambling firms could
get a fairer shake like their offshore counterparts.

Another reason the government is keen to clean up its online gambling industry
by introducing a more stringent licensing strategy is to quell growing concerns
over corruption in sport, in addition to illegal online betting. The government
review will likely be scheduled for early 2010.

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