The UK Gambling Commission has published its fourth and last report of its ongoing series that is looking into the issue of illegal online gambling.
This series of reports,...
BGC releases report on gambling tax impact and black markets
Higher taxes and tighter regulations are pushing more European gamblers toward unlicensed sites, according to a new report from the UK’s Betting and Gaming Council (BGC).
The study, carried out by PricewaterhouseCoopers (PwC), found that countries like France, Sweden, and the Netherlands have seen large parts of their gambling activity move offshore.
In contrast, Spain and Denmark, where tax rates are moderate and licensing systems remain open, continue to keep most players within regulated markets.
The report found that about 5% of online betting and gaming in the UK now takes place on unlicensed black-market sites.
The CEO of BGC, Grainne Hurst, commented:
“Britain has one of the safest gambling markets in Europe but if the Treasury isn’t careful, we could quickly end up like France or Sweden, with huge black markets contributing nothing in tax, offering zero player protection and providing no funding for sport or the economy. Well-balanced regulation and fair taxes protect players, raise more revenue for the Treasury and support thousands of jobs. Unlicensed operators do none of those things.”
The UK Treasury Committee also recently published a report about the negative effects of gambling. The report advised the government to introduce taxes on online betting, corresponding to the degree of risk involved, cautioning against giving in to pressure from the gambling industry.
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