Implications of Brexit for gambling industry

[Sherlock]

I see just one very clearly: it is a bad day for Bet365, because they will be out of EU now, so the shift towards illegality will be even stronger.

The same effect will be on Betfair. There are no other UK bookies strong on continental Europe, maybe WillHill. I think this is really bad.

Any other impacts?

[slotplayer]

All kinds of trade agreements have to be redone. UK Immigration policies.

[Triple7]

Bet365 was illegal here yesterday, is illegal today and will be illegal when UK is out. Same thing for Malta-licenses. Malta is EU, but in almost every country operators will have to have a license of that specific country.

[AE-Stephen]

To be honest, nobody has a clue what will happen at this time its far too early to speculate.

David Cameron doesn't even have to invoke article 50, he could come out and say the vote was so close we will hold another referendum in a few years. The people were asked their opinion only. I'm not saying this will happen, I'm just pointing out its too early to speculate.

Even if we do Invoke article 50 we have 2 years to phase out.

We are still a member of the EU at the moment, I have no idea why people are pulling out already?

[Sherlock]

Bet365 was illegal here yesterday, is illegal today and will be illegal when UK is out. Same thing for Malta-licenses. Malta is EU, but in almost every country operators will have to have a license of that specific country.

It is not exactly that. There are shades of grey. There are also other aspects, like people in Czech republic (and I believe in many other countries), do not have to tax income from gambling, but only from gambling within EU.

[Sherlock]

UK Immigration policies.

This can affect gambling industry? I meant online gambling.

[AE-Stephen]

Scrap that Cameron has resigned.

[Sherlock]

I have no idea why people are pulling out already?

It is my revenue share and plans. Imagine I have 2 bookies: bet365 and some other. The other one is EU based, bet365 will not be EU based. Bet365 gets the most traffic. Bet365 is the best, but the other one is close. The decisions have to be made.

[Triple7]

It is not exactly that. There are shades of grey. There are also other aspects, like people in Czech republic (and I believe in many other countries), do not have to tax income from gambling, but only from gambling within EU.

Bet365 is having licenses in Malta and for example Romania, so Czech-people are able to gamble within the EU and at Bet365 or any other bookmaker with a Malta-license.

[AE-Stephen]

I understand your nervousness, I would feel the same. Everything is up in the air but its too early

I just can't see trade between the UK and the EU stopping trade, neither can afford it. Can you see Audi and Mercedes Benz pulling out of the UK. Something will be worked out in the 2 years from when we invoke article 50.

[Sherlock]

Bet365 is having licenses in Malta and for example Romania, so Czech-people are able to gamble within the EU and at Bet365 or any other bookmaker with a Malta-license.

Bet365 was 14 days ago on Romanian shitlist and therefore banned by ISPs, there was some change? Maybe you confuse it with Bulgaria?
I did not know Bet365 had licence of Malta.
They for sure have IT and ES licences, but it is weird if their core country will have to leave. I would like to know more from them for sure.

[blendtec]

Bet365 have a license in Romania now - affiliates can't promote without a different kind of license in the country as far as I know but they have definitely been working on getting licensed there.

I hope it won't change much as they are the best company to be affiliated with - It will take quite a bit of time before UK is officially out of the EU - some saying as much as 4 years - Cameron resigning before October and assuming a new prime minister doesn't enact article 50 on day 1 it will most likely be 2-3 years.

[Triple7]

Bet365 was 14 days ago on Romanian shitlist and therefore banned by ISPs, there was some change? Maybe you confuse it with Bulgaria?
I did not know Bet365 had licence of Malta.
They for sure have IT and ES licences, but it is weird if their core country will have to leave. I would like to know more from them for sure.

I thought they were granted a license, but I could be wrong ofc. Malta they do have(http://calvinayre.com/2015/08/11/pre...ing-authority/).

I think it's now a bit early to see what will happen exactly. I guess the relation with EU will be more like the relation EU-Switzerland than the relation EU-North Korea...

[Sherlock]

Bet365 have a license in Romania now - affiliates can't promote without a different kind of license in the country as far as I know but they have definitely been working on getting licensed there.

I hope it won't change much as they are the best company to be affiliated with - It will take quite a bit of time before UK is officially out of the EU - some saying as much as 4 years - Cameron resigning before October and assuming a new prime minister doesn't enact article 50 on day 1 it will most likely be 2-3 years.

It is not on the topic, but bet365 is still listed as banned: http://onjn.gov.ro/lista-neagra/
And players from Romania can not signup. So please tell me your source.

[Syndicate]

While things have been going down in this industry for years, i wouldn't take the Brexit has having a negative effect. Afterall, these companies all have other entities within the EU, so across border trading shouldn't be an issue!

To be honest i'm gutted that we voted out, but with me that feeling lasted about 60 seconds. Opportunity knocks - and it's everyone's duty to get their piece!!

[BBCasinos]

only thing i know now is that affiliate payments done from pound to euro next month are horrible. With the pound dropping

[Miles_FTA]

Am I right in saying this ? Was there such a thing as an "EU Gaming License" that would allow an operator to operate in any country in the EU would that have included The UK now that the UK have voted Out if you had such a license you'd now need to apply for a UK one and this could be turned down ? I am a little curious -- Long road ahead but we've been there done this before right everyone will come through this stronger and the bigger companies will fix this in the coming years so i wouldn't just be dropping programs just yet let the dust settle

[Sherlock]

only thing i know now is that affiliate payments done from pound to euro next month are horrible. With the pound dropping

be positive: the month is horrible either way

[Deano99]

As Stephen said, it's probably too early to call.

I suppose the biggest uncertainty faces those affiliates who rely on the UK market. If there is a huge downturn in the economy in the UK as a result of Brexit then this will surely have a negative impact on the revenue share of these affiliates.

Obviously this will be made worse if the the pound continues to drop, for affiliates living abroad and converting into their local currency.

As a side note (but as this is Sherlock's thread maybe the question belongs here!) will this fear and uncertainty in relation to the GBP have much of an impact on the Bitcoin market?

[TheGooner]

will this fear and uncertainty in relation to the GBP have much of an impact on the Bitcoin market?

Gold up 22% today when compared to the GBP - bitcoin not so much.