General Betting
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The U.K. government will announce plans to change betting rules tomorrow, potentially paving the way for an end to tax breaks available to offshore gaming companies.
Culture minister John Penrose told Parliament this evening that he will make a written statement at around 9.30 a.m. London time giving more details of the plans. Penrose was speaking in response to a debate called by Conservative lawmaker Matthew Hancock, former chief of staff to Chancellor of the Exchequer George Osborne.
“We are intending to move as fast as we can towards a system which will fix the problem of offshore betting,” Penrose said. “Anybody based anywhere in the world who wants to sell gambling services to any consumer based in the U.K. will, in future, have to have a Gambling Commission license.”
Hancock said the amount of money collected in betting duty by the U.K. had fallen to 335 million pounds ($539 million) in the year to March, from 424 million pounds in the year to March 2008. The government’s plans would enable the Treasury to tax offshore bets made by U.K customers, Hancock said in an interview afterwards.
“The government has announced it’s bringing the gambling industry onshore,” Hancock said. “Where the person is putting the bet on is what will matter, not where the company is based.”
Culture minister John Penrose told Parliament this evening that he will make a written statement at around 9.30 a.m. London time giving more details of the plans. Penrose was speaking in response to a debate called by Conservative lawmaker Matthew Hancock, former chief of staff to Chancellor of the Exchequer George Osborne.
“We are intending to move as fast as we can towards a system which will fix the problem of offshore betting,” Penrose said. “Anybody based anywhere in the world who wants to sell gambling services to any consumer based in the U.K. will, in future, have to have a Gambling Commission license.”
Hancock said the amount of money collected in betting duty by the U.K. had fallen to 335 million pounds ($539 million) in the year to March, from 424 million pounds in the year to March 2008. The government’s plans would enable the Treasury to tax offshore bets made by U.K customers, Hancock said in an interview afterwards.
“The government has announced it’s bringing the gambling industry onshore,” Hancock said. “Where the person is putting the bet on is what will matter, not where the company is based.”
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Hopefully a turnover tax on stakes, will teach them all a lesson
First step towards competitive, viable and sustainable UK online gambling market
The announcement by the UK Government about proposed changes to online gambling regulation in the UK is a significant step forward for our industry and worthy of some explanation. The announcement made by John Penrose MP, Minister for Tourism and Heritage at the Department for Culture, Media and Sport (DCMS), sets out the Government’s intention to move towards a system whereby online operators taking bets from UK residents will need to obtain some form of licence from the Gambling Commission in order to continue to do so legally. The full details are available here http://www.culture.gov.uk/news/ministers_speeches/8293.aspx
Under the current system, only online gambling companies with their equipment located in the UK are required to hold a licence from the Gambling Commission. The current system has faced considerable criticism as it allows companies based offshore to operate in the UK without being regulated by the Gambling Commission or paying tax to the Exchequer.
For many years Betfair operated at a considerable competitive disadvantage to its offshore competitors before being one of the last to transfer away from a UK licence earlier this year. Our revised licensing structure provides the Company with the freedom to locate key technical equipment in more efficient locations in order to improve service to customers and compete on a level basis in the UK market. Both of these should be possible with a UK licence and we therefore welcome this first step to a sustainable UK regulatory regime.
The announcement has been two years in the making and follows on from a consultation held by the previous Labour Government and an ongoing review by the current Coalition Government. Given that the introduction of the new regulatory regime will require primary legislation, via amendments to the 2005 Gambling Act, it is likely to be another couple of years before the changes are implemented.
There will therefore be no immediate impact on how Betfair operates. Even when changes come into force, Betfair should not have to relocate equipment or employees to the UK as the new regulatory structure will be based on whether companies are taking bets from UK residents, regardless of where the bets are processed and how companies are structured.
Betfair has engaged with officials and Ministers at all stages of the process and is supportive of the changes being proposed. In the context of the dynamic regulatory environment in Europe, Betfair believes it is positive to see the UK Government willing to amend existing legislation to make sure there is a competitive, viable and sustainable online gambling regime in the UK.
Clearly there remain numerous issues which will all need to be clarified before any changes can be implemented. For example, how does the government plan to enforce the regulatory changes? What sanctions can it impose against operators who continue to be based abroad and take bets from UK residents without obtaining the necessary licence from the Gambling Commission? Will licensees continue to be required to make statutory payments to horseracing?
It’s clear there will be much debate within the industry, government and media about the proposals of which Betfair will endeavour to engage in a constructive and useful manner. Betfair is proud to be an award-winning British business. Even though we now operate globally we are headquartered in the UK and continue to generate half of our revenues from the country. We therefore take a keen interest in the regulatory environment for online gambling in the UK.
http://views.betfair.com/2011/07/first-step-towards-competitive-viable-and-sustainable-uk-online-gambling-market/
The announcement by the UK Government about proposed changes to online gambling regulation in the UK is a significant step forward for our industry and worthy of some explanation. The announcement made by John Penrose MP, Minister for Tourism and Heritage at the Department for Culture, Media and Sport (DCMS), sets out the Government’s intention to move towards a system whereby online operators taking bets from UK residents will need to obtain some form of licence from the Gambling Commission in order to continue to do so legally. The full details are available here http://www.culture.gov.uk/news/ministers_speeches/8293.aspx
Under the current system, only online gambling companies with their equipment located in the UK are required to hold a licence from the Gambling Commission. The current system has faced considerable criticism as it allows companies based offshore to operate in the UK without being regulated by the Gambling Commission or paying tax to the Exchequer.
For many years Betfair operated at a considerable competitive disadvantage to its offshore competitors before being one of the last to transfer away from a UK licence earlier this year. Our revised licensing structure provides the Company with the freedom to locate key technical equipment in more efficient locations in order to improve service to customers and compete on a level basis in the UK market. Both of these should be possible with a UK licence and we therefore welcome this first step to a sustainable UK regulatory regime.
The announcement has been two years in the making and follows on from a consultation held by the previous Labour Government and an ongoing review by the current Coalition Government. Given that the introduction of the new regulatory regime will require primary legislation, via amendments to the 2005 Gambling Act, it is likely to be another couple of years before the changes are implemented.
There will therefore be no immediate impact on how Betfair operates. Even when changes come into force, Betfair should not have to relocate equipment or employees to the UK as the new regulatory structure will be based on whether companies are taking bets from UK residents, regardless of where the bets are processed and how companies are structured.
Betfair has engaged with officials and Ministers at all stages of the process and is supportive of the changes being proposed. In the context of the dynamic regulatory environment in Europe, Betfair believes it is positive to see the UK Government willing to amend existing legislation to make sure there is a competitive, viable and sustainable online gambling regime in the UK.
Clearly there remain numerous issues which will all need to be clarified before any changes can be implemented. For example, how does the government plan to enforce the regulatory changes? What sanctions can it impose against operators who continue to be based abroad and take bets from UK residents without obtaining the necessary licence from the Gambling Commission? Will licensees continue to be required to make statutory payments to horseracing?
It’s clear there will be much debate within the industry, government and media about the proposals of which Betfair will endeavour to engage in a constructive and useful manner. Betfair is proud to be an award-winning British business. Even though we now operate globally we are headquartered in the UK and continue to generate half of our revenues from the country. We therefore take a keen interest in the regulatory environment for online gambling in the UK.
http://views.betfair.com/2011/07/first-step-towards-competitive-viable-and-sustainable-uk-online-gambling-market/
Feck this must be at least one thing that nobody on here wants, even you.
Oh this is going to be fun, that's about 20 sites I'll be withdrawing from soon then.
No wonder Betfair want it if that's the state of play - they probably pushed for it.
No wonder Betfair want it if that's the state of play - they probably pushed for it.
Can anyone else see the conversation between 5 dimes Tony and the UK govt?
It'll be something like
UK: Hi Tony Williams?
Tony: Who wants to know?
UK: It's the UK govt.
Tony: Hi
UK: We want you to get a license
Tony: Well, nice for you
UK: Really, we do
Tony: F*** off
UK: Tony that's bad, really naughty
Tony: Yeah, oh well, if you don't like my site your country doesn't have to use it. Bugger off
UK: Sigh
It'll be something like
UK: Hi Tony Williams?
Tony: Who wants to know?
UK: It's the UK govt.
Tony: Hi
UK: We want you to get a license
Tony: Well, nice for you
UK: Really, we do
Tony: F*** off
UK: Tony that's bad, really naughty
Tony: Yeah, oh well, if you don't like my site your country doesn't have to use it. Bugger off
UK: Sigh
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