Most of the online gambling operators are worried about the effects that will follow after Britain’s decision to exit from the European Union. There is a huge cause of alarm because the exit could lead to the online gambling operators based in the UK stranded from the European Union.
In case that Britain leaves the EU without coming to an agreement regarding online gambling regulations, the country might be forced to return to the World Trade Organization (WTO) rules, which may cause all the trade talks to collapse.
What does this mean for UK’s players?
While nobody knows how this move will affect the gambling industry, it may have some negative effects on the gaming industry.
The first negative effect is that all the regulations may change drastically. The British government will have no choice but decide whether all the European residents will enjoy similar benefits with the UK customers. All the gaming tax will come into question. If the gaming tax updates it will mean that most of the operators will close their door to UK players.
Another issue that may raise several eyebrows, is the poker liquidity. This means that there will be less money going into poker tournaments because of few overseas players.
Trouble at Gibraltar licensing?
The most significant influence, which probably will be felt in the most prominent way is the influence on the Gibraltar licensing for gaming industry. This entity has already lost several of its licenses due to a series of mergers and acquisitions. In addition to planning for new gambling taxes and annual licensing fees, Gibraltar is coming up with contingency plans should the Brexit move affect their business.
However, despite the plans set aside to prepare for the Brexit storm, some of their operators like bet365 and 888 holdings are considering to move some of their operations to Malta and Ireland.