The Online Interactive Gambling and Betting Association has come out with an announcement that it anticipates 225 companies to move from offshore tax havens to the UK, provided that the gambling bill would be legislated. The government in its endeavors to regulate properly the online gambling industry which somehow fell outside of the existing legislation, labors to amend this lapse. Under the proposed reforms, the regulatory frame and tax regime for online betting will finally be established in the UK.
The chairman of the IGGBA maintained that a regulatory body is a necessity for the growing online gambling industry, otherwise UK citizens will have to visit offshore sites to gamble and the government remains powerless and unable to enforce its licensing objectives.
In the case the bill does not go through the parliament, the legislation might be stalled for another month or even years before the appropriate legislation comes along.
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| Source: gamblingsmart news staff
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Friday, 11 March 2005 |
Saturday, February 4 2012 
