Gibraltar Online Gambling Post Brexit

Published Sunday, January 15, 2017 -
Gibraltar Online Gambling Post Brexit

The online gambling industry has had many jurisdictional issues over the years and one not so recent event, the exit of Britain from the European Union has created a few problems. The British territories that are affected by the political upheaval caused by the Brexit vote are doing what they can to salvage operations in those tax havens associated with the United Kingdom.

Gibraltar is one British protectorate area that has had political differences with Spain for example and has been the location for the headquarters of some of the online gambling industry’s most successful operators.  The people of Gibraltar made their stance on the issue clear by deciding by a 96% majority to remain with the European Union. There are around 33 licensed gambling companies in the territory including Ladbrokes, BetVictor, Gala Interactive, IGT and NYX Gaming Group and 888 Holdings.

The real problem is not knowing which way the tree will fall but not all companies in the online betting business located in Gibraltar are that concerned. Deals between UK gambling operators and the rest of Europe are not necessarily done simply because the United Kingdom is a sizeable market and too big a carrot to ignore doing business with. Free trade agreements between the UK and E.U. countries are generally still in effect for now and there may be benefits of new deals in Gibraltar. Advantages of being located in Gibraltar were made pointless when the UK introduced the point-of-consumption tax in 2014.

It seems possible that Gibraltar and the U.K. won’t have the same access to European Union partners because of possible regulatory rules slowly but surely being implemented by the European Commission. There is time to reflect on the Brexit fallout and companies involved in providing online gambling services to the world will keep ahead of the legal political and financial curve and maintain a safe and secure virtual environment for punters everywhere.

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