Online Gambling Braces For Brexit Impact

Published Wednesday, July 26, 2017 - Online-Casinos.com
Online Gambling Braces For Brexit Impact

Brexit has been made official and now the various industries that have been a big part of the European Union’s e-commerce are facing some big questions regarding the future of their businesses. Of the many sectors the online gambling community is showing concerns whether leaving the European Union will have a negative effect on the bottom line.

It may not be the best thing for the E.U. but Britain may do very well in the gambling industry and legal industry. The United Kingdom has six of Europe's biggest gambling and regulatory bodies including the UK Gambling Commission and the Gibraltar Regulatory Authority which licenses some of the largest operators in the online gambling industry today.  Without Britain’s centralized gambling regulations companies and nations are on a state by state basis. The concept of countries assisting each other in difficult times now becomes untenable and no longer legal. A me first before anyone else approach becomes common. It is a step away from which is an unsafe and insecure operating environment for the European Union. When  British Prime Minister Theresa May formally began the much huge UK exit from the European Union the repercussions are beginning to mount up.

Changes have occurred in the internet betting industry as a result of the Brexit already. Most of the changes are being prepared by lawyers who are most concerned about damage control for a lot of online gambling operations and the tearing up of trade agreements with a number of jurisdictions.

Quoting the Teresa May government UKGC CEO Sarah Harrison said, ‘Out of the EU doesn’t mean out of Europe’. Adding, “There will still be the need for regulators – whether Europe-based or international – to share information and talk to each other, to share best practice,”

Aside from having less access to the talent pool of developers and skilled creators of innovative gaming products it looks certain that British internet betting will thrive as it has in the past.

 

 

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