What is the income from gambling in Britain?

Gambling is legal in the UK. Every year it generates a revenue of up to 13 billion pounds sterling. This contributes significantly to the government’s budget. Online casinos account for about 32% of the revenue – £4.5 billion.
There are about 150 casinos in Britain today. Also in the country there is a large number of slot machines (up to 170,000). You don’t have to go anywhere else to enjoy your favourite slot. There are some online casinos which are also legal in the country. There you can get free spins no deposit non gamstop. The gambling business provides British people with jobs. There are more than 100,000 Britons working in this sector today.

Legislation

The sphere of gambling in the UK, as in many other countries, is regulated by the state. Back in the late 1990s, the Gambling Review Body was created. This commission’s task was to study the influence of gambling on the society. Also, it looked into the future of this sphere. The Commission concluded that gambling can bring good income to the budget. It was only necessary to regulate the sphere.
In 2005, the Gambling Bill was signed into law. This law stated that there were 4 types of casinos in the UK:

• Large;
• Regional (such as resorts);
• Small;
• Under-sized to fall into one or the other category.This item was created to cover all the gambling establishments that existed in the country at the time.

The small casino category includes establishments that are 500-1500m² in size. For table games, the minimum space must be 500 m². This is where betting is allowed. The maximum number of slot machines must be 80 machines.
Larger casinos reach 1500-3500 m². A minimum of 1000 m² must be space for table games. Bingo can be held here. The number of slot machines can be up to 150 machines.
The gambling industry has developed at a very fast pace. Therefore, amendments to the law were needed. They were introduced in 2014. It became mandatory to obtain a gambling license from the Gambling Commission.

Gambling regulators

The government has a lot of influence over gambling in the UK. There are two regulators in this area:

• Gambling Commission;
• Licensing Committees or Licensing Authorities.

The Gambling Commission is responsible for almost all gambling matters: https://www.gamblingcommission.gov.uk/licensees-and-businesses. The exception is spread betting. These are handled by the Financial Conduct Authority.
The Gambling Commission is highly respected all over the world. Online casinos licensed by this organization are considered to be reliable resources.
The Gambling Commission performs the following functions:

• Determines the conditions for each type of license;
• Investigates and punishes illegal gambling;
• Regulates the license holders;
• Assists local authorities in dealing with issues related to gambling;
• Regulates how licences are issued;
• Reports to the Secretary of State on the state of gambling in the UK.

Taxation

Money that has been received from people who gamble in the UK is subject to taxation. The HMRC UK tax office is responsible for enforcing the law in this matter. A company wishing to do business in the gambling industry must register with it.
The taxation of land-based casinos is fairly straightforward. A person who has won money in a gambling establishment has to pay tax. When it comes to online casino users, customers have to provide information from their country of residence. The company has the right to demand it when the gamblers register on the resources. If such information is missing, it could be considered an attempt at tax evasion.
The verification process is of great importance. It’s not just a question of providing passport details, which is mandatory. Some online casinos wish to verify the customer’s IP address. Therefore, the use of VPN software is not recommended. This can be seen as an attempt to break the rules. Sometimes, in order to verify the location of the customer, they ask for bank statements. The reason for such a strict check is that the UK pays a lot of attention to the issue of taxation! Attempting to evade tax can lead to loss of license and heavy fines.

Types of gambling

Legislation in the UK clearly distinguishes categories in gambling. There are these types of gambling:

• Betting;
• Casino games;
• Lotteries;
• Bingo (games of equal chances).

The following gambling products stand out:

• Online games;
• Betting;
• Arcade games;
• Land-based casinos;
• Slot machines;
• Lotteries;
• Bingo.

Getting a licence

In order to obtain a UK gambling licence certain conditions need to be met. They are mandatory for land-based casinos and online resources. Any organisation or person can apply for a licence. The Commission examines the trustworthiness of the gambling organiser and the location of the gaming equipment. The duration of the license depends on its type. It is also issued to the employees of the establishment. This specifies the powers and duties of the managers and employees.

Online gambling

About a third of the UK gambling market is online gambling. It generates substantial revenues (about £4.5 billion). Its closest competitor is the National Lottery. Its annual revenue is approximately £3.4 billion.
Online gambling has the following structure:

• Betting Pools(£26m);
• Betting exchange(152 million);
• Bingo(153 million);
• Betting(£1.6bn);
• Casino gaming(£2.6bn).

Slot machines in the UK

Britain’s gamblers have their own preferences. Some of the most popular slot machines in this country include:

• Multifruit 81;
• Viking Runecraft;
• Esqueleto Explosive.
• Copy Cats;
• Divine Fortune.

Game software developers

There are quite a few organizations in the UK that make a good income from creating slots. Talented programmers from all over the world are attracted to this task. Here are just some of the well-known game software developers:

• Microgaming;
• Core Gaming;
• Ash Gaming;
• Realistic Games;
• Blueprint Gaming Ltd;
• Playtech4.

Microgaming is globally renowned. It is one of the leaders in slots development. The organisation was founded in 1994. In the 1990s, it was one of the first to develop games for online casinos. Microgaming has created hundreds of products, most of which are slots.
Core Gaming was founded in 2007. It mainly develops games for mobile devices.
Ash Gaming has been creating slot machines since 2002.
Realistic Games was established in 2002 and is the creator of their own ReGaL platform.
Blueprint Gaming Ltd. is a subsidiary of the German organization Gauselmann Group. It was established in 2007 and has developed over a hundred slot machines.
Playtech4 was founded way back in 1999. Since then, it has developed hundreds of slots. This organization is valued by many gamblers for its attractive game interface and interesting themes.
All of the aforementioned companies have to pay taxes. They submit reports annually, which specify the amount of their profits. Thus, it is not only casinos that contribute to the UK’s budget. Organizations that create software also generate income!

Over the years, gambling in the UK has been a good source of income and has created a lot of jobs. There are many land based casinos in the country and online gambling is well developed.
Two large licensing boards are located in Britain. Gambling related conferences are held here every year. The UK is home to companies that create software that is in demand all over the world. Therefore, it can be said that gambling has great prospects here!

Over the years, gambling in the UK has been a good source of income and has created a large number of jobs. There are many land-based casinos in the country and online gambling is well developed.
Two large licensing boards are located in Britain. Gambling related conferences are held here every year. The UK is home to companies that create software that is in demand all over the world. Therefore, it can be said that gambling has great prospects here!