Tighter Online Bingo Regulations Rumoured

Tighter Online Bingo Regulations Rumoured

Written by: kelly on 17/02/2011 18:15

At the current moment there are a lot of online bingo operators getting business from UK customers without a massive deal of Government regulation, at least in terms of collecting taxes from offshore operators, and rumours have it that this is about to change shortly.

More Regulations = Safer Playing, or More Tax Revenue?

Depending upon who you listen to, there are two possible reasons for the Government wanting to tighten up this industry, so we’ll go with the official line first.

The whispers coming out from official sources is that they want to help people avoid gambling addictions through excessive use of casino or bingo sites. This is very laudable, but as it is clear that finding a way to stop people with addiction problems gambling online is next to impossible many are suggesting a different reason behind this idea.

Quite simply, the online bingo industry is now a big money spinner, with many sites pulling in huge numbers of players every day. The problem is, as mentioned earlier, that the UK tax man isn’t getting to see a slice of the profits because of the fact that most are run by offshore companies.

The problem is obviously going to be around how to carry out this legislation to help the tax people get their share -which we don’t think many of the players would complain about – without forcing operators into lowering their prizes or even going out of business.

It is a difficult subject and we will keep an eye on how it evolves in the next few weeks or so.

Categorised Under: Bingo News,
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