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What’s Instore for UK Gambling in 2019?

Every new year comes up with some new rules and brand new casino games for the gamblers. As the industry is growing, in 2019, the main aim for the online gambling hubs of UK is to expand the roots worldwide. This year is set to cheer people up with new cool casino games and is set to disappoint with increased taxes. According to the reports, UK earned close to 14 billion euros from gambling activities. The industry has grown rapidly in the past few years and UK gambling 2019 is expected to continue to flourish.

uk gambling 2019

UK Gambling 2019 – Maximum Stake Deduction

The Department of Digital Culture, Media and Sports (DCMS) has finally come up with the decision to decrease the maximum stake at fixed odds betting terminals (FOBT) from a hundred euro to two euros. People often complained about losing a lot of money to the casinos because of FOBT. Therefore, the government has decided to reduce the maximum wagers.

The United Kingdom Gaming Commission, however, is not satisfied with the decision to drop the maximum bets to a very low of 2 euros. The rule is expected to be released effectively from April 2019. Earlier, the government thought about delaying the enforcement of the law till 2020, but this created big havoc among people. When the public leaders criticised the decision to postpone it for 2020, the government announced that the original decision that is to apply the rule by April 2019 will be enforced. UK gambling scenes are set to undergo some big changes.

Tax Increase

At present, the tax rates of 15% are imposed on the casino players in the UK. This rule has been running since May 2014 and is set to undergo a change now. The UK gambling 2019 scenes are set to alter a bit with an increased tax rate of 21%. This hike in the taxes is to compensate the loss caused due to FOBT.

The maximum stake deduction is expected to cause a loss of one and a half billion euros over the 5 years span. An increase in taxes to 21% is an alternate way to compensate the loss that’ll be caused. Of course, such an immense tax rate is sure to cause some chaos in the UK gambling 2019 market. The companies have already started to flip out and actively thinking to increase the game rates.

Growing Overseas

UK gambling 2019 market eyes to mark a significant growth in the US market. Many companies in the UK already look worried about the FOBT and Tax changes. Keeping in mind the adverse effects these new rules will bring in the market, the companies are looking forward to growing internationally especially in the USA. Furthermore, Brexit is set to affect the UK gambling 2019 by increasing the taxes. Many big companies have already started to invest in the American market.

What’s Instore for UK Gambling in 2019?
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Post Name : What’s Instore for UK Gambling in 2019?

Posted On : 07/02/2019

Author : Cameron Riddell