United Kingdom- The Game Changer
While other countries are still grappling with regulating the sports betting and online gambling scene, UK seems to be winning. With stringent laws that protect both the state and punters, the United Kingdom seems to be the one to beat when it comes to enforcing gaming rules. The regulation of online gambling practices is the very force that has differentiated the UK from other countries.
A billionaire industry feeding a growing economy
The United Kingdom is littered with sports betting shops in many of its regions and also houses some of the most successful online betting sites. This opens up a portal that makes online gambling and betting a very lucrative sport, which in turn, supports both the financial status of the country and its people. As the government is actively involved in enforcing strict gambling policies, gambling in the UK may be less risky than it is in other regions.
The law abiding ‘city’ of gambling
UK established the Gambling Commission under the terms of the Gambling Act of 2005. This body took on the role of the Gaming Board for Great Britain. Soon online gambling was regulated under this act of 2005. The Gambling Commission further solidified its status by taking over the regulation of the National Lottery, giving it the authority to declare gambling operators fit or unfit to operate and having license to accept or deny their certification. With an influential gambling commission like this, it’s no surprise that football betting in the UK is becoming a huge part of its recreation.
What does this mean for Football betting punters in UK?
The continuous regulation of betting laws means the regular gambler is protected to a certain degree. It’s also a safety measure that keeps the industry crime-free and minimises corruption. The measures enforced by the UK Gambling Commission also ensure that best practices are adhered to, and that those offering betting services do so in a fair and transparent manner. Furthermore, the exploitation of minors is reduced significantly. In a British state, it would be difficult to fall victim to gambling scams, simply because there is a body that monitors the gaming scene, one you could turn to, should you find yourself in a vulnerable situation.
Tax-free bonuses and pay outs
It seems like the UK law predominantly supports its citizens by not taxing punters’ winnings and rather reserving taxes for the online betting companies. In most countries, this is unheard of and so for this reason, the UK is the one that keeps pushing the envelope when it comes to football betting and gaming in general.
A legislation fostered on integrity and transparency
The legislation’s approach to keeping the public in the loop about what’s happening in the betting world, puts players at ease, and gives them confidence in the system. The most recent and notable change in the UK Gambling Legislature is the update to the Licensing and Advertising Bill. This bill contains proposals which compel all UK gaming sites that wish to advertise within the UK, to hold a license issued by the UK Gambling Commission. Although the bill has not yet been enforced, it has been received with mixed reviews from major operators and gambling giants including the Gibraltar Betting and Gaming Association. Currently, the law stipulates that a license from the Whitelisted Gambling Jurisdiction is enough for betting sites to operate. The jury is still out on whether this Advertising Bill will pass, but knowing the UK’s tough rules, whatever they decide, is what we will all have to come to terms with.