Gambling is a huge part not only of the British economy but also of the everyday lives of most Brits, Scots, and Whales citizens. It becomes possible thanks to the full legalization of all gambling activities and pretty liberal industry legislation. Moreover, nowadays iGaming is officially recognized as a hobby (not a job) in the UK, and thanks to it, players are not obliged to pay taxes on winnings.
Keep reading to find out more about the long history of gambling in the UK, what games are most popular among locals, and how an operator can obtain a license from one of the most respected jurisdictions.
The history of British gambling and current industry legislation
Gambling has been regulated by the laws of the United Kingdom since the 1960s. However, this does not mean that before that period, the British were not fond of games. It is believed that the tradition of gambling and betting in the island state goes back several centuries. However, until the second half of the last one, there was no regulation of this area in the country, there was no question of licensing casinos, and no punishment followed for gaming.
Current Britain law allows all types of remote gambling and betting with just two strict restrictions. The first one is the age of a player: participation in games for minors is prohibited. And the second one concerns the ban on playing on unlicensed platforms. Wherein it’s allowed to play not only on websites with a local license but also on ones with an offshore permit, which is on the British “white list.”
The gambling legislation of the United Kingdom is constantly evolving and improving. The last major amendments were made to the law in 2005. The new rules were designed to “ennoble” the gambling industry and are mainly aimed at protecting children and potentially vulnerable (addicted) individuals from the harmful effects of gambling. These measures further strengthened the authority of the UK and its licenses in the international arena.
What advantages do the players of British casinos have?
As we have already mentioned, all types of gambling are legal in the UK. In addition, winnings are not taxable. This means that UK players don’t have to worry about any legal issues while playing and can also be sure that they will get the full amount of the prize.
One more huge advantage of local casinos is safety and reliability. Each player has no doubt that the platform is fair and secure if it has a British gambling license. The UK’s gaming authority closely monitors operators’ activities, as well as the compliance of gaming enterprises with the principles of AML policy. Such scrupulousness, inherent in the Brits’ mentality, is the foundation for building and maintaining an impeccable reputation of the jurisdiction and the licenses issued by it.
Finally, The British gambling market attracts players with its diversity. The United Kingdom is one of the few countries where private (or social) gambling is more than welcomed by locals and allowed by the government. The British have been making bets on soccer or horse racing in pubs or some other private entities for years. Currently, it’s still very popular, and the only restriction is that all participants, according to the law, must be equal (for example, the organizers of the game can not admit to the game for the purchase of something).
What games are the most widespread in Britain?
Slots are the most popular gambling type in Great Britain. A simple and fast game is a pleasant pastime that does not requiring much effort and is completely dependent on luck. Interestingly, that passion for game machines unites the British with their American gambler counterparts.
Betting is also an important part of British life. Of course, most bets are placed on football (the major national sport in the UK). In second place in popularity are bets on horse racing and dog racing. Betting is widespread in the country, both in a virtual and offline formats. Very often, pubs and other places of entertainment became places for betting.
Bingo, or as the British call it, “housie,” was the first game that was legalized in the country. Since then, locals have been actively playing bingo both in specialized gambling halls and online.
Lotteries are another favorite game of the British. There are national ones in the UK, a huge share of the profits from which goes to charity. Thus, the state derives additional benefits from the gambling industry: now it not only replenishes the treasury from taxes but also helps people in difficult situations.
Is it hard to obtain an iGaming license in the UK?
As gambling (and especially iGaming) brings a lot of money to the country’s budget, local governments are permanently working on developing and increasing industry legislation. In particular, the authorities are busy creating convenient and attractive conditions for operators wishing to obtain a license in the jurisdiction. Despite the fact that the application process today is quite transparent and simple, the UK gambling license cost can hardly be called affordable. The price of obtaining a permit starts at £25,000.00.
It is worth noting that the expenses of getting a British license will unquestionably payback in the long run. It is possible thanks to the brilliant reputation of the largest European gaming market and a very high level of trust in its licensees. So, what is needed to acquire a local permit? After preparing mandatory documents, paying fees, and submitting an application, businesses should go through an investigation, which checks the honesty and reliability of the enterprise and its owners. Among the long list of UK, license pros are that it is permanently valid.
LicensingAid specialists are here to help you with obtaining any gambling license. The British one is no exception. Feel free to contact us with any questions and get professional help.
