Updated:2019
With talks of Brexit getting more and more serious we are wondering how it will affects us gamblers. Can we still bet on our favorites or will there be big changes for us as well?
It’s as unclear in any business as it is in the gambling business, we just don’t know for sure. Will the free market become more regulated? Will foreign actors still be allowed to showcase their platforms in the UK? The question are many and the answers are few.
Brexit vs Online Gambling – What we know so far
Now we are going to look into some of the different scenarios regarding one of the most popular activities in Great Britain, online gambling and sports betting.
Does UK Gambling Commission’s license mean the operators are safe?
Something that we do know is that any online casino offering their services from the UK have already been audited and approved by the Gambling Commission in our country, logically thinking this means they would have no problem with staying online in the UK after Brexit, regardless if any deals are struck, as long as they have offices within the UK.
This as the UK Gambling Commission is one of the most strict in Europe, meaning that there should be no problem with regulations for already active sites after Brexit.
Will the winnings remain tax-free?
One question that a lot of people are eager to know about is the question regarding gambling taxes. As of now all winnings acquired from gambling are tax-free in accordance with EU laws, but with Brexit there might be a change, and taxes might be imposed on gamblers as they withdraw their winnings.
The even bigger tax question is for the companies, as nothing is yet known we have no clue if the gaming tax will stay the same or if the laws will change, free movement of money and services was something guaranteed by the European Single Market, and this in question as we are waiting for the final Brexit deal.
Gambling companies’ international workers
Another thought regards workers, as of now gambling companies recruit from all over Europe to get a better reach and more knowledge in the company. If the UK leaves without a deal it can become much more expensive to hire staff, this will in turn mean lower profits, and what do companies do when profits are lower?
They cut expenses, this might impact the player as odds get a little bit lower, bonuses not as generous and less promotions to save money.
What about Gibraltar and its’ online gambling workforce?
We can also think about Gibraltar, which has close relations with the UK, and has a good share of the online casino market (25% of their GDP comes from gambling).
How will a hard Brexit affect all workers living in Spain? Thousands are crossing the border everyday to get to work, and this can get very interesting to see how Spain would handle these people. Remembering the ”illegal” elections in Catalunya, chances are high they might stop everyone from entering and exiting the country.
Companies would have to hire from within Gibraltar and fly down a lot of people to replace the 13,000 who are currently crossing the border everyday.
We hope that the politicians will find good solutions for everyone, gamblers included. Many operators are active all over the EU, some might stop accepting bets from the UK as tax laws are imposed, or offices moved.
We just don’t know. But expect some things to change, for better or worse. The people have chosen and now it’s the dawning of a new time, we hope that Brexit comes with positive winds and more power to the British people.
Age Verification