The United Kingdom has been known to have steep online gambling taxes, forcing many formerly UK-based companies to relocate to offshore locations. A loophole in the UK’s laws allow for offshore operators to operate in the country without paying any additional taxes, but that could change when the UK’s gambling reform takes place.
After the Black Friday debacle, the UK government decided to change its online gambling laws in order to ensure that players would be safe. In order to prevent a similar situation from happening in the UK, it was decided that major changes would need to take place.
One such change would be closing the loophole for offshore operators. This would mean that operators located in places like Gibraltar and the Isle of Man would have to apply for a UK gambling license, forcing them to pay additional taxes. It would also ensure that the UK Gambling Commission can keep a closer eye on their operations.
As many companies moved from the UK because they could not afford the taxes, the gambling reform could see the elimination of many offshore bookmakers from the UK market. In addition to making the market less saturated, it would also ensure the safety of customers across the UK.
