The United Kingdom Gambling Commission last week announced that gaming revenues have risen 6 percent during the 2013-2014 year among licensed operators, totaling £6.8 billion.
Brick and mortar casinos represent 47 percent of that yield.
The figures come only from casinos that held UK Gambling Commission licenses before the new gaming act became law, which require licensing and taxation of online gaming operations.
The Gambling (Licensing and Advertising) Act 2014 took effect on December 1. It requires that operators from around the world offering gaming to UK residents have licenses within the UK.
This means that gaming operations that fled offshore to avoid paying UK taxes will now be required to pay those taxes when they offer gaming services to those living within the United Kingdom.
Operators will have to pay a 15 percent consumption tax in addition to paying for a license. The UK’s position is that no matter where the service is being provided, that if it is being provided to a UK resident, the service must be taxed.
This new law’s purpose was in part to level the playing field between home-based casinos and offshore casinos.
The commission reported that online betting rose 30 percent to £25.4 billion. Wagering on soccer accounted for 40 percent of that increase.
The Gambling Commission has warned sports governing bodies to make sure that sponsorships are not with overseas gaming operators who do not have a UK license.
