What the new UK Gambling Regulations Will Mean for UK Players

On October 1st 2014 new regulations come into force in the UK market which will mean significant changes for UK based gamblers. The new point of consumption tax will mean that any casino or gaming operator who wish to advertise to or accept UK players will need to seek an official license from the UK gambling commission. They will also be required to pay a 15% tax on any gambling transactions which arise from within the UK.

Due to a High Court challenge to the Gambling (Licensing and Advertising) Act 2014 DCMS will be taking the necessary steps to postpone this legislation coming into force until 1 November 2014. This will allow a judgment to be made without undue time pressure.

Unfortunately, this has already led to many gaming companies refusing to accept players from the UK and those with existing accounts are being given until the 30th September 2014 to cash out their accounts.

However it is not all bad news, several of the most well known casino have pledged to remain in the UK market, and many more are now seeking the appropriate licenses in order to accept UK residents. There is currently a backlog in UK licensing applications, so it is likely that some casinos will temporarily suspend play from UK residents and will reopen to players once the appropriate licenses are in place.

Currently Casino Rewards casinos, Betway, Roxy Palace and William Hill group have pledged to stay and Full Tilt Poker have opened a new lobby especially for UK residents. Big guns such as 32red, Betfred and other companies with large populations of UK players are certain to remain in the UK market upon obtaining the correct licenses.

Although the regulations have been put in place seemingly to protect UK players, there has been much concern in the industry about a new gambling black market springing up with unlicensed companies still accepting bets from the UK without providing any of the security or player protection that the new act provides. The act is designed to protect minors and vulnerable people whilst ensuring that all gambling transactions are safe, secure and transparent. It is unclear what protection UK customers will have against those companies who choose to flout the laws. Therefore from the 1st October 2014 all UK licensed and officially sanctioned casinos will display a logo on the front page.

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