Online betting has been in the mainstream for quite some time now. Punters can place bets in almost anything – from casino games, horseracing, sporting events, up to financial markets even weather forecasts as long as it is within the interest of bettors.
Technology has been a major factor in these changes and it is believed that it will expand further in the near future. Only a few years ago, online betting was restricted in almost every country in the world. Today, punters can place bets over the internet, mobile phones, and even with their tablets. Furthermore, the evolution is constantly changing and this means that there are lots of room for improvement.
United Kingdom has been a global center for online gaming for about a decade already. Interestingly, the government of United Kingdom is making measures to require bookmakers to pay 15% tax on gross profits on all revenue generated from players. This Point of Consumption Tax will be imposed starting on November 1st 2014. Once the new addition to their Gambling (Licensing and Advertising) Act becomes a law. This news is not new to UK customers. In the late 90’s taxation moved from a transaction to a gross profits basis paid by the bookmakers rather than its customers and they were imposed a fee of 15% tax on gross profits same as what the British government are now planning to do with online betting.
The 90’s taxation on UK markets paved way in opening a door for online betting and thus, the same goes with the recent talks about the additional UK gambling tax (Point of Consumption Tax). Most of the leading sports books like Sbobet, 12bet, and Pinnacle Sports already backed out on United Kingdom in providing their services because of the pending 15% tax on gambling. This time around, a sports broker – www.asianconnect88.com is continuously providing customers with their preferred sports bookies in and out of United Kingdom despite the latter’s recent withdrawals.
Why bet with a broker? Using the services of a broker will help you login into all of your bookies accounts; they can give you real-time odds for major sports books; they will assist you in placing bets in the shortest possible way; and most importantly, they maintain a secure and safe betting procedure to protect your transactions.
Regardless of the changes made by governments in trying to regulate or influence the betting market, most of the time the consumers are still the one who dictates the flow of the market and the only thing the government can do about it is to make laws that protect its citizens rather than focus on imposing heavier betting tax. It didn’t work back then, why would they think it would work now?