The UK Gambling Commission (UKGC) was set up to advise the government on the country’s gambling policy. According to an article by Online Casino Reports, the Commission is currently set to give recommendations about online gambling that would go against the government’s current policy. If implemented, these recommendations could significantly change the UK gambling sites industry in ways that could affect players like you. But exactly what changes will the UKGC suggest and how will they affect you?
Huge swing for new UK gambling sites world
The main change the UKGC will suggest is to reduce the licensing fees that online casinos have to pay to get up and running. This would enable more businesses to enter the online gambling market because lowering the licensing fee is the same as lowering the price of admission. This would make the market far more competitive and give players a wider choice of casinos. The increased competitiveness of the market may also incentivize established online casinos to offer players better odds, bonuses and prizes in order to retain their customer-base. As we discussed in a previous blog entry, this is already likely to happen to some extent due to the natural expansion of the market. However, lowering the licensing fee could speed up the rate at which competition increases and make the effects more noticeable. Overall, this would certainly be a good thing for Britons who enjoy gambling online.
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The UKGC will also imply that the government should focus on taxation as a means to make up for the lowering of license fees and to ensure that online casinos pay a fair and equitable amount to the state. As bizarre as it sounds, this may also have a positive impact on players, albeit indirectly. Online casinos that are willing to take part in a more transparent and vigorous taxation process are likely to be reputable. In contrast, businesses that may not have run their online casinos in a trustworthy manner may be deterred from entering the industry by a highly-focused (and potentially more costly) system of taxation.
In summary, the implementation of the UKGC’s recommendations would stimulate competition while simultaneously deterring disreputable businesses from entering the world of online gambling. If you enjoy gambling online, the UKGC’s recommendations are likely to affect you very positively! However, only time will tell whether or not they’ll be implemented.