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Online betting sites going abroad?

Written by: Nikola Zugic on 30/06/2009 20:09

There has been news of online betting sites moving out of the UK and going abroad instead. Are taxes to be blamed? Or are the laws and regulations limiting the country’s online gaming, specifically betting, operations? The increase in high taxes in live bingo has been the talk of the town for weeks. Several online gaming and bingo companies are striving hard during these tough times. Not only are we experiencing a global economic crisis but other gaming facets are experiencing high tax increase. So are online betting sites worried about it too that they choose to go abroad instead?

The William Hill gaming network CEO, Ralph Topping, has given a big hint to the online gaming magazine, egrmagazine.com. He has hinted about moving their operations abroad, to another country. They are considering moving their internet and phone systems to another country because of competitive pressures. Well, at least it’s not the taxes this time. But who knows what will lead this into? What will happen to UK’s online gaming sites if they continue to move elsewhere?

There are a lot of competitors launching everywhere and William Hill is definitely feeling the pressure. The online gaming site knows that there are over four hundred English-language betting websites coming from various competitors. So can they handle the competition? What are other ways to help them stand out or take on this issue? According to their CEO, they don’t have the luxury to just take simple steps in order to face the competition. They have to do something about it. And one of their plans is to move abroad where they can lessen the taxes that they are currently paying in the UK.

Last April, they have avoided a 2% tax increase because it could mean closure of more than 800 betting shops. However, they are still not doing well having to pay 15% tax as compared to other competitors in Ireland which pays only 1.5%.

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