NEW U.K. POINT-OF-CONSUMPTION LAW NOW AWAITS ROYAL ASSENT
06th April, 2014 at 03:09:26
Measure has survived the Houses of Commons and of Lords gauntlet.
In the United Kingdom, the Gambling (Licensing and Advertising) Bill has emerged from the Houses of Commons and the Lords and now awaits only Royal Assent, which is expected in May.
The bill, which is founded on the concept that gambling takes place at the point of consumption, requires all remote gambling operators seeking to access the British punter with their services to take out British licensing and pay British taxes before being allowed to advertise or transact with UK online gamblers.
In a late amendment to the bill, the British horse racing industry should benefit from a requirement that offshore betting companies serving UK punters must pay a levy on gross profits taken on horse racing bets.
However, all may not be plain sailing for the bill, as the publication Out-Law reports:
"Changes to the law, however, may yet be delayed. According to media reports, the Gibraltar Betting & Gaming Association (GBGA) could consider raising a judicial review challenge against some of the proposed reforms. Some gambling operators that provide remote betting services to consumers based in the UK have their businesses based in Gibraltar."
The UK Gambling Commission
is expected to publish final revisions to its Licensing and Codes of Practice guidelines before the end of this (April) month following extensive market consultations.
Check out the route of this legislation so far: http://services.parliament.uk/bills/2013-14/gamblinglicensingandadvertising.html
Related News Tags: Gibraltar