Penrose Announces U.K. Online Gambling Commission Revisions

Published Thursday, July 14, 2011 - Online-Casinos.com

The most trusted jurisdiction in the world for online gambling is arguably the United Kingdom. It has pioneered the regulating and licensing of online wagering operators with positive results creating an era of respectability for the online gambling industry.

Now as predicted by analysts the U.K. government will begin the reforming and revamping of the U.K. Gambling Commission. The announcement made by John Penrose, Minister responsible for gambling policy and regulation, states that all onshore and offshore gambling operators selling services into the UK will have to obtain a license from the Gambling Commission if they wish to continue offering online gambling to consumers in the U.K.

Penrose announced that revisions to the regulations for the industry would be based on the point of consumption rather than point of supply. No further details were added as to the changes in the tax regime, timing for the implementation of the changes or which jurisdictions will be affected. Penrose continued, “It means anybody based anywhere in the world who wants to sell gambling services to any consumer based in the UK will, in future, have to have a Gambling Commission license,”

Analyst James Hollins of Evolution Securities was of the opinion that “We think that the taxation discussion will come prior to implementation as and when the Treasury gets involved,” Hollins continued with the suggestion that offshore operators are not “bearing a fair share of the costs of regulation firmly implies, in our opinion, that taxation will become part of the new legislation.” This could delay full implementation because of the legislative process to 2013 or even 2014.

It has been suggested by Penrose that jurisdictions that carry a ’White Label’ certification may not have to undergo the lengthy process of re-registering. Penrose said of those trusted white label jurisdictions that they would get a “lighter touch approach and, for example, will not have to duplicate regulatory work.” They will be entitled to a transitional license so they can continue trading as normal during the transitional period.

 

 

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