All things considered, there’s little hope for the online gamblers to benefit from Brexit.
Currently, many operators and gambling officials are afraid that it will only bring chaos. Even if there are positive changes on the way, they’re too few or too far off to be predictable today.
The possible scenarios include:
Many Possible Outcomes
As online casino experts, we may be used to predictions and odds. However, predicting the effects of Brexit aren’t the same thing as guessing the end score of a football match at sports betting sites.
There are much more unpredictable variables in the equation. Thus, there’s no way to know what exact changes would take place after the UK’s separation from the EU.
With that in mind, we have studied various opinions and possible outcomes that are the most likely. Based on them, we managed to get a clearer idea of how Brexit might affect a regular gambler.
1. The Offshore Territories Issue
Currently, they provide services in more countries than just the UK. The current regulations allow them to do so without any problems. However, the regulations and licencing might change upon the leave.
If it happens so that casinos established offshore can’t service the UK itself, operators might have to choose a side in the entire Brexit debacle. This would inevitably lead to some of them leaving the UK market.
2. Favourable Current Regulations
Luckily, even with some online casinos leaving the UK, it might turn out to be beneficial to the gamblers. Today, the UK’s government regulates online casinos and betting like no other country in the world. It’s a strict market for the gambling houses to operate in.
However, this is good news for players. They can enjoy a very safe and trustworthy gambling environment.
If the UK keeps the same laws in place, the players might not even notice the UK’s separation. What’s more, such licences and regulations may be more easily enforced.
In the long run, this could result in improved user terms at all online casinos.
Ensuring this in today’s market isn’t as easy, despite thorough examination of various casinos. Occasionally, offshore businesses still manage to benefit from online players. And they don’t always do it in the fairest ways possible.
3. Regulations Might Change
What upsets many companies is the fact that licensing acts might change. If they had an assurance that things will stay the same, it wouldn’t be as worrying.
After all, the market generates over £14bn yearly income. Over £5bn comes solely from the remote sector. Thus, it’s an important market that would absorb most of the possible damage.
🔖 – Find more gambling revenue statistics in this Calvin Ayre report – https://calvinayre.com/2018/12/06/business/online-gambling-larger-share-uk-market/
Yet the possibility of regulations changing threatens potential investors. New isolating terms might slow down the development of new games, technologies and innovation.
This is the worst possible outcome for the players and the country too:
- The release of new games and unique gambling possibilities would decrease
- The country would lose some of the revenue it receives today
The fact that the changes in laws and regulations are unpredictable is upsetting. It's already discouraging new investments.
TL;DR – Not Much to Look Forward To
Today, it seems that leaving the EU is more detrimental than beneficial. Of course, the separation would inevitably cause trouble in the beginning. There’s no way around it.
There would be lots of bureaucratic issues at first. Casinos might have to get new licences and pass new kinds of confirmations.
It doesn’t mean that it’s only getting worse for the players, though. In the long run, the separation might still be beneficial.
One of the possible outcomes is an even better-controlled gaming environment. Other outcomes might only become apparent once the deal is done.