December 7, 2018
Today, there is a massive variety of online casino games available to players in the UK, from online slots and video poker to roulette, blackjack and even live dealer games, all of which are regulated by the UK Gambling Commission, the governmental authority on betting law. Here’s what you need to know about the regulation of the online gaming industry in the country.
Over the past decade, the online casino industry has exploded in the UK. This is partly due to the popularity of online gaming, and partly due to the laws that regulate online casinos in the country being fairly straight forward compared to other countries.
Let’s start with security. To determine your safety and security, along with the information you submit to online casinos, regulations have been introduced to ensure the arena remains as safe as possible.
The Gambling Commission introduced certain regulatory measures to ensure that online casinos adhere to cybersecurity and data protection standards before they are even granted a license. This includes proving that player data is completely safeguarded through the use of anti-malware software and end-to-end encryption.
There are few other countries that have taken these types of steps yet, yet we are seeing legislation catch up as more governments start to acknowledge the widespread use and popularity of online casino gaming.
This is one industry that continues to flourish at a rapid pace in the UK, and pretty much anywhere else in the world. The UK government has therefore seen the need to adapt policy in accordance with emerging new industries.
In fact, the UK Gambling Commission was the first government body to take certain steps towards regulating online casino games when it implemented the 2005 UK Gambling Act. The Act was designed to bring all online casino regulation under the same umbrella as their land-based counterparts.
Following these steps, even more steps were implemented a few years later as more loopholes within the laws were spotted that allowed some operators to set-up offshore and avoid paying tax. AS a result, the laws were updated to express that any online casino operating within the UK had to have a license form the Gambling Commission and needed to operate, at least partly, within the country.
Did you know that the UK is a better place to be a winner than most? It is one of the few countries that doesn’t tax your online casino winnings!
So, any jackpots you win, for example, whether it pays you a couple of pounds on a hand of blackjack or a couple hundred thousand pounds on the spin of a roulette wheel, the money is all yours for the keeping.
The online casino industry in the UK is worth billions of pounds and generates more than 2 billion pounds in tax revenue for the country’s government. This tax is collected from the casino operators instead of from your winnings, as the profits from the casinos are taxed the same way in other business in the country is.
That’s great news if you’re playing to win the next progressive jackpot, isn’t it?