Recent reports have been released scaring the British public into believing that any steps that the UK coalition government takes in relation to taxing online gambling would affect the life of an online bingo player but will the real victims be the operators? Bingo players in the UK are expected to benefit by the changes the government is reportedly taking into consideration. In addition to the tax related issues, UK bingo players may benefit from changes to a flawed form of regulation.
There are some online bingo operators that dodge paying bingo tax in the UK by basing themselves offshore in their choice of “White Listed” countries. In doing so, most of these online gambling operators pay significantly less bingo taxes compared to land based bingo clubs in the UK paying approximately 20%.
If the government swoops in and makes changes to this industry as a means of increasing taxes and putting the UK on the road out of debt, bingo players will have less choice than they do now according to the founder of BettingExpert.com, Jesper Soegaard. He stated: "In the current economic climate, with the government desperately seeking to raise funds in every area available to them, it is unsurprising that an overhaul in gambling regulations is being discussed. An overhaul of regulation would be "catastrophic", he also indicated. Soegaard suggests that the reform could cause smaller operators to cease trading, forcing countless online bingo players to find a different site to hang their hats.
The sooner the current legislation is revamped to regulate and tax the industry the better. This will certainly not be the case for everyone of course. The online bingo brands themselves will suffer.
There are some online bingo operators that dodge paying bingo tax in the UK by basing themselves offshore in their choice of “White Listed” countries. In doing so, most of these online gambling operators pay significantly less bingo taxes compared to land based bingo clubs in the UK paying approximately 20%.
If the government swoops in and makes changes to this industry as a means of increasing taxes and putting the UK on the road out of debt, bingo players will have less choice than they do now according to the founder of BettingExpert.com, Jesper Soegaard. He stated: "In the current economic climate, with the government desperately seeking to raise funds in every area available to them, it is unsurprising that an overhaul in gambling regulations is being discussed. An overhaul of regulation would be "catastrophic", he also indicated. Soegaard suggests that the reform could cause smaller operators to cease trading, forcing countless online bingo players to find a different site to hang their hats.
The sooner the current legislation is revamped to regulate and tax the industry the better. This will certainly not be the case for everyone of course. The online bingo brands themselves will suffer.
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