Home Business Insights & Advice Brexit pros and cons for the UK online casino industry

Brexit pros and cons for the UK online casino industry

by John Saunders
24th Feb 21 2:40 pm

As European Union is going through some tough changes in these last couple of years, this Brexit thing is some latest red flag that signals trouble in this unique market. It seems like the United Kingdom made up its mind and figured that it will be better off on its own, away from the rest of Europe. This is at least, from their economic perspective, but also from a political standpoint as now the British can regain their independence in matters of foreign policy. It seems like their politicians have calculated and convinced their public that staying in the EU costs them a lot of money. They did not say how certain industries might get affected by this separation from the Union, especially some lucrative and popular ones like their gambling industry.

We are better off alone

The United Kingdom has been donating a lot of funds into the EU pockets by default but exiting might hurt their economy more than staying and paying their dues. Many online casinos do not do this and break the law. Therefore, all users are better off reading the reviews of the best online casinos on our website LeafletCasino first. This is because gambling rules and regulations outside the UK may prove to be an obstacle now that the United Kingdom is no longer part of this Union. Operating business in markets like Canada or Australia will not be a problem since these are Commonwealth members but doing business elsewhere might become harder.

Operating a gambling site in Italy, for instance, requires for that site to be registered within the EU, so many popular British gambling providers might move out from the UK. They might try to get a license elsewhere, somewhere within those EU’s borders, to avoid new and unexpected restrictions. This is all bad news for the UK gambling industry as much stay revenue might just evaporate in thin air. Separating itself from the rest of Europe also means that cheap immigrant labor that works in traditional casinos will be hard to find, so mainland casinos must deal with that issue as well. This is bad news for live online games that are already being outsourced to European countries. It is hard to say how will this industry manage to replace some lack of that working force but changing those immigration laws is always an option.

Maybe it’s not that bad at all

It will take some time for us to see those ramifications of Brexit, but some things might go well for the UK gambling industry after all. Every online casino understands what the authority of the UK gambling commission means and its prestige in this industry. Each casino in this world that wants to be labeled as a safe online casino will gladly register within those UK borders so it can be dubbed safe and reliable. This is a golden opportunity for the United Kingdom to become like an offshore haven for gambling sites all over this world that wish to be recognized and appreciated. This might be one safest way to facilitate those downsides of Brexit on this industry and bounce back a little bit.

That unique status of Malta or Gibraltar allowed gambling companies based here to enjoy tax cuts and other benefits. After this Brexit, life may become a little more difficult for them, and it may affect players worldwide. Increased costs of operating must be recuperated elsewhere, and by elsewhere we mean by cutting cash deals and bonus promotions. Or maybe, casinos will increase these spending to attract punters to a new, more competitive market where they must fight for each customer with those EU-based casinos. We will just have to wait and see if the UK gambling industry will manage to turn this situation to its advantage.

Looking beyond EU

There are not many countries that can just turn their back on the EU, but the United Kingdom is a powerhouse, and it has strong economic ties with those Commonwealth Nations. Perhaps the UK gambling industry should look toward Canada and other markets to supplement their income. Maybe concentrating on that minimum deposit casino market worldwide is a new winning strategy. Almost every $10 minimum deposit casino Canada’s players enjoy comes from the UK, and they always earn stellar reviews. Players that aren’t high rollers will gladly take those $10 dollar bonus deals if they find a reliable gaming site, and luckily, the UK is full of them.

If all else does not work, their domestic gambling industry can always rely on its national lottery to supplement its declining income. That is probably that one segment of the UK gambling industry that will never lose its ground. With those jackpots going up to hundreds of millions of pounds, it will always remain that backbone of the UK’s gambling business. Online casinos might suffer some ups and downs because of Brexit, but hopefully, they shall bounce back on their feet after some adjustments. After all, they have been here since that very inception of online gaming, they are probably originators and the most trusted and reliable players in this business.

No one will seriously think about those economic consequences of Brexit until they show up. We guess that is some British mentality thing, a certain dose of stubbornness mixed with a cynical sense of humor. Those gamblers around the world who enjoy British gaming sites are not laughing at all, anxiously expecting this situation to unveil. All online gambling activities originating from the UK will decline in volume, perhaps just for a brief moment. After some adjustment to new rules, it will all be just business as usual.

 

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

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