23 11 月 Remain Or Leave the EU and Open Up Great Opportunities for the UK Online Casino Industry
There has been a lot of talk going around the UK online casino industry in the run up to the UK’s EU Referendum about whether the UK should stay in the European Union or leave. One of the biggest issues is the impact it would have on the online UK gambling industry, which is heavily reliant upon the UK gambling market for its success. If the UK were to leave the EU then it would undoubtedly mean that the UK online casino industry would dry up overnight, and most online gaming companies would either go bankrupt or close down. With Remain leading and the lead Remain party winning more seats in the House of Commons, then the government may well feel compelled to go into negotiations with the EU and try and get it to stay. But with Remain looking set to win the overall election and there still a lot of uncertainties surrounding the outcome of the EU Referendum, then what are the pros and cons for the UK online casino industry?
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For the UK online casino industry, it is clear that remaining in the EU would be a very positive thing for the industry. The key issues would be the access of online casinos to the Single Market. This is essential for both the UK gambling scene and the rest of the Single Market as all of the UK’s gambling companies would need to be licensed by the UK gambling commission in order to operate from anywhere within the Single Market. The UK online casino industry would also find that remaining in the Single Market would allow them free access to the stock markets in the event that Remain were unable to seal a deal with the EU. This means that UK gambling companies would be able to keep a foot in the door even after the UK leaves the EU, something which seems unlikely at the moment.
There are also a number of financial benefits to remaining in the EU. It is estimated that the UK online casino industry would find an additional six million pounds in gambling year on year. This would of course add quite a hefty figure to the pound sterling already being used as part of the UK financial services. While it would seem that Remain would win the economic arguments on the night, there are a number of factors that could change the betting industry’s prediction.
