Taxes Keep Online Gambling Fair

Published Sunday, September 08, 2013 -
Taxes Keep Online Gambling Fair

A recent article translated in Worldcrunch from a news source the Calcalist in Israel indicates there are those out in the world that believe there are people taking advantage of the common desire to gamble.

The headline reads ‘High-stakes gambling machines involve billions of pounds, and prey on the destitute and unemployed. Most of the technology comes courtesy of Israeli billionaire Teddy Sagi.’

The article suggests that the larger gambling operators are strategically locating the video poker and gaming parlours in poor hoods where there is little to do but put money into the machines and watch it disappear.

Gambling has been an integral part of British culture and since horse races in the 17th century, also of part of the British economy. It is a 6 billion pound industry in the UK and is responsible today for roughly 0.5 percent of the country’s economy. It also generates 700 million pounds in taxes a year. This is not something to be sneezed at with the hard financial times still coming at the economy without abatement.

When one reads on in the article it becomes apparent that maybe there are a few too many gambling opportunities for the under paid working class who make the world go round.

Adrian Parkinson, formerly a betting industry insider and now a member of the Campaign for Fairer Gambling commented on the changes from the 2001 reforms in the betting tax, “Shops with our machines moved from profits of 400 pounds a week to 15,000 a week. The industry started embracing them, and this is when things got me worried. We started marketing them more and more aggressively, and this was accompanied with total disregard to the risk and influence of these machines.”

The question remains as to how the new proposed tax platform will affect the economy of Britain. Perhaps the empire will make the operators who exploit move on to other locations such as Mexico and Brazil.

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