Several of the UK’s leading bookmakers, who also operate online poker sites, do so from the shores of Gibraltar. This is because these companies would face a 13% tax rate for operating from the UK, however by operating from Gibraltar, these companies that include; William Hill Poker, VC Poker and others currently pay a 1% tax rate but this is set to change. A tax rise for poker sites in Gibraltar will see them pay 10%.
For two years some of the biggest names in online poker and online gambling in general have been reaping the rewards of this tiny tax rate but recently lawmakers at the European Union have stated that ‘’ taxes must be comparable’ and Gibraltar’s tax rates are much lower than other member states’ tax rates. So the honeymoon period is over for William Hill Poker, Ladbrokes Poker and VC Poker but what will this mean for players at these companies and for players at their sites?
Victor Chandler himself told El Pais newspaper in Gibraltar ‘Nobody will leave, although we'll all complain about taxes going up.’ The Chairman of Victor Chandler International also suggested that many other online poker sites, bingo sites and online casinos currently operating from Gibraltar will simply take the hit as opposed to relocating their operations. So the history of poker will, in part, continue to be written in Gibraltar but what will the tax hike cost online poker players?
With the online gambling business in Gibraltar, and around the world in general, thriving and making millions for its shareholders the tax rise for poker sites in Gibraltar is unlikely to affect poker players and the deals that they receive. So don’t panic, you’ll still be able to get great poker bonuses and promotions from Gibraltar-based poker sites in the future.
31/05/2011 15:12:54
