Are you a fan of UK online gambling? If so, you should be aware of whether or not it’s technically legal so that you can avoid potential problems related to various issues and especially legalities.
All nations on planet Earth have laws/regulations regarding all sorts of gambling. That includes Internet gambling. That includes the UK. In fact, there’s a lot of legislation that been passed related to web-based betting and legal issues.
It’s important to know some of the basic of UK gambling that’s not specifically related to the Internet gambling. For example, all gambling was legalized in the UK in 1960. The UK Gambling Commission is the body that regulates UK gambling.
Meanwhile, the legal age for most types of gambling is 18. Meanwhile, people at least 16 years old can buy scratch cards and lottery tickets, and participate in football pools.
How about online gambling in the UK? The Gambling Act 2005 and Gambling Act 2014 are used for governing the majority of Internet activities.
The Gambling Act 2005 is an important law was critical for modernizing the UK’s gambling laws. It included new laws that had three main goals. One was to prevent gambling from becoming a source of crime/disorder or being linked to them. Secondly, it made sure that gambling was done in a fair/open manner. Next, it protected vulnerable people including minors from being exploited by gambling.
The act made the UK Gambling Commission the body that was responsible for regulating all UK gambling. Also, new types of gaming licenses/rules stating how the license could be secured were designed.
Not only that but online betting was then placed under the same controls as brick-and-mortar gambling. Also, gambling licenses were made available for offshore companies.
Other important legislation related to online gambling was the Gambling Act 2014. This was related to the issues of licensing and advertising. For several years the 2005 act was unclear about Internet betting that was provided by companies located outside the UK but that were servicing UK customers. These issues were addressed by the Gambling Act 2014.
The act made regulations such as licensing the same for all Internet gambling providers regardless of the place they were located.
A more important issue is that the act made foreign-based providers legally responsible for paying the 15% tax that UK-based companies were already required to pay. This was done by defining it as a “point of consumption” tax instead of a “point of supply” tax. It’s important to know the differences between these two taxes as taxation is a critical issue related to the operation of online casinos.
Another important issue related to UK web-based casinos is money laundering. Three are regulations about money laundering, but they’re not complete. Based on 2007 legislation, only companies with casino operating licenses must address risks related to money laundering.
In other words, those companies must be use measures that can identify all customers and verify clients’ identity based on data, documents, or data secured from a reliable/independent source.