• Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Archives
    Archives Contains a list of blog posts that were created previously.
  • Login
    Login Login form

UK Operators will need to pay tax for the free betsUK

Posted by on in News
  • Font size: Larger Smaller
  • Hits: 1684
  • Subscribe to this entry

b2ap3_thumbnail_free-bets.pngBookies in the United Kingdom were expecting an increase in the duty to the machine games on Wednesday but this took a turn when the UK Chancellor Geeorge Osborne announced something different. He announced that those operators who were licensed in the UK would start paying a free bet tax from August 1st 2017.

This proposal is yet to be passed but if passed, online casinos and bingo rooms will start parting with 15% general duty on bets that are free or discounted. As for now, they have been exempted from the 15% point of consumption tax that has faced huge criticism in the second half of 2014. The online gambling operators will now have more than a year to prepare for the new tax which has given them a great window period to tweak their free bets.

There isn’t a defined difference between Sports Betting, Casino and Bingo

This new tax will be used in giving bookmarkers, bingo and online casinos a level playing ground. Earlier, the bingo rooms were paying 15% POCT on all their online gambling activities which were generated from players who are UK residents. Chancellor George Osborne gave a suggestion that the new tax will seal loopholes and will not hurt operators in the gambling industry.

Online casinos stock responded positively to the news but the operators did not like it. The shareholders thought that the news would be harsher than this. They thought that there might be more restrictions on internet advertisements or more taxes. This free bet tax came as a relief for them, when the POCT tax was introduced about one and a half years ago, some of the operators recorded losses.

Nothing is permanent

This proposal has to be approved before casinos and bingo parlours in the UK have to pay tax for the free bets. Only time will tell, whether the tax will be implemented or not!






Tired to search every day for casino bonuses? Tired to see the word "expired" under every promotion? Do you are always looking for new online casinos? We have a solution. Subscribe to our newsletter and receive the latest casino bonuses, codes, exclusive deals, news and reviews directly in your mail.

Please, insert a valid email address.

Great! Successfully subscribed.

Ops! You're already subscribed.
We use cookies to ensure that we give you the best experience on FreeExtraChips. Read our privacy policy.Ok, Thanks!