Home Business Insights & Advice Brexit and the gambling industry

Brexit and the gambling industry

by John Saunders
10th May 19 10:23 am

A large part of the British economy is made up out of online gambling with almost half of the adult population enjoying a bet or wager of some kind leading to millions be spent each year. This had led to a great deal of speculation surrounding the impact of Brexit on the gambling industry, especially when talking about tax revenues.

Online gambling really took off once the hardware and software advanced to such a stage that playing on a smartphone was actually preferred by many to playing on their desktop.  This is understandable as we all lead busy lives and being able and being able to source the best online casinos together with a list of top casino bonuses in a few minutes appeals to many who want to have some casino action during their lunchbreak or whilst commuting to and from work.

The operators who want to operate inside the UK have to hold a gambling licence issued by the UK Gambling Commission. If the UK does leave the European Community then players might find it more difficult to access new and existing online gambling sites, especially if a new licence is required for operators to carry out business in the UK.

Gibraltar is also a big concern. There are many ex-pats that voted for Gibraltar to remain one of the UK protectorates but they also voted to stay within the EU. The antagonism that lies between the UK and Spain concerning Gibraltar is well documented and if Gibraltar does come out of the EU then this will have a negative impact on many people.

It is estimated that over 50% of those that work in the gambling industry in Gibraltar commute from Spain on a daily basis crossing the border with relative ease. There is a possibility that Spain could actually close the borders meaning that anyone wanting to leave The Rock would have to leave by air or sea.

Another consequence of Gibraltar leaving the European Community would be the job losses incurred within he gambling sector and we are already seeing some in the industry turning to other countries such as Malta to make their bases rather than ‘wait it out and see.’

Please play responsibly. For more information and advice visit www.begambleaware.org

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