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I've got an email from Pinnacle Affiliates saying they can't provide their service to UK players anymore because of the new UK legislation. Can anyone tell me in a few words what has changed and what kind of companies will be leaving UK market? I don't have many players from UK, i'm just curious.
Thanks
Pinnaclesport or SBO for that matter do not have a UK license, many say they would´t qualify, others suggest they will be happy without UK customers!
The reason UK clients are not needed is obvious, most are sharp, in other countries the masses play with Asian bookmakers, in the UK the leisure player bets with the well known names such has Ladbrokes and William Hill , these companies weed out the winners who in turn go to bookmakers like Pinnacle!
Most of the syndicates are relocating to the channel Islands to get over this obstacle!
thanks bettinganalyst but you didn't answer my question. What exactly has changed with the new legislation so they will stop accepting UK players?
Do you mean that only companies with a UK license will be able to accept UK players, that's it?
Yes , as they didn't have UK License , they had to close UK market . In UK , it will be like that , only UK Licensed companies will be able to accept UK players there.
It's a new point of consumption tax. So anyone (whatever their location) who accepts UK players owes UK tax on their gross profits generated and must be licensed via UK Gambling Commission. It is subject to a court case (initiated by Gibraltar) so the start of the new regime has been put back to November 1. Shame, because Pinnacle is the only proper bookmaker. Everyone else limits to pennies or closes your account. Only place left for a non-recreational bet is the betting exchange (when there's liquidity).