eGaming Review January 2014 - Page 44

2013 : W H A T W E L E A R N E D F E A T U R E 2013 WHAT WE LEARNED eGaming Review looks back at the biggest news stories, trends and talking points from an eventful 12 months in the industry, which saw the US take off and some major players show their strategic cards 42 01 > UK REGULATION CAUSES HEADACHES The United Kingdom’s Gambling Bill will require all operators taking UK bets or advertising in the country to obtain a licence from the Gambling Commission and pay a 15% tax on gross profits WHAT HAPPENED? The bill set to shake up the UK online gambling industry made it through the House of Commons and now faces a vote in the House of Lords. Currently those licensed in white-listed territories, Gibraltar or the European Union are still able to advertise into and take bets from the jurisdiction, but the amended bill will require operators to be licensed in the UK and pay tax on its UK revenues. The Bill faced a substantial amount of criticism from egaming operators, particularly from chief executive of the Gibraltar Betting and Gaming Association (GBGA), Peter Howitt, who described it as “terrible” and “damaging”. “Our concern is that you will in fact be damaging UK consumer interests and the regulatory reputation of the UK with this Bill and it’s not necessary to achieve the wider policy and political objectives the UK wants to achieve,” he told the parliamentary committee. Details of one aspect of regulation which has been on the table since 2012, the point of consumption (PoC) tax, came to fruition during the year with the www.egrmagazine.com