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  1. #1
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    Default UK to Tax Freeplays

    Effective August 1st the UK will start taxing freeplays at online casinos. What this means is there will be a 15% Point of Consumption tax imposed. The UK Government estimates this could bring in at least £345 million between 2017 and 2021. Freeplays will be added when calculating licensed operators’ profit.

    To read more: http://www.casinonewsdaily.com/2017/...lays-august-1/
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  3. #2
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    What does everyone think?

    Will the bonus structure have to be completely revamped?

    Rick
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    Quote Originally Posted by universal4 View Post
    What does everyone think?

    Will the bonus structure have to be completely revamped?

    Rick
    Universal4
    Of course it will have to be revamped! Government thinks it's smarter than private business or markets, and it simply isn't. Players will curtail volume, operators will find loopholes AND cut rewards. Consumer will suffer.
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    Default

    Apart from bonuses being the scurge of the industry, they're are also a tool which unethical casino etc., use to shave affiliates (with bogus deductions). I'd personally like to see them gone. If licensed operators are hit with the GST of 15%, I'm starting to see a more troubling picture.

    That is, pretty soon with all these taxes etc, there will be nothing left for affiliates.

    I'm sure in the not too distant future (due to all these taxes and what not) Rev-Share will be abolished and it will CPA only.

  6. #5
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    So they are taxing money which does not exist?
    The bonus is not 'real' money until it has been played through 'x' amount of times.
    Paddy Power already have changed their offer to a risk-free bet, i.e. not a bonus, just a refund if the bet loses. I assume this is a way round the tax that most other bookies will have to follow. Pain in the ass for all of us really - this could create a large amount of change to bonuses and 'free bets' in the industry.

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    Quote Originally Posted by RacingJim View Post
    So they are taxing money which does not exist?
    Just like the current monetary regime in the world. Paying banks interest on money created out of thin air by central banks whose shareholders are the same as those who own the commercial banks! We're all living in a monetary fairy-tale land and governments still can't balance their budgets, thus resorting to more and more and more taxation.

    It's bonkers.
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  10. #7
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    Quote Originally Posted by PROFRBcom View Post
    Just like the current monetary regime in the world. Paying banks interest on money created out of thin air by central banks whose shareholders are the same as those who own the commercial banks! We're all living in a monetary fairy-tale land and governments still can't balance their budgets, thus resorting to more and more and more taxation.

    It's bonkers.
    Yep, it'll all break at some point. We live in mad times, fuelled by total greed and out of control capitalism.

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  12. #8
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    Quote Originally Posted by RacingJim View Post
    So they are taxing money which does not exist?
    The bonus is not 'real' money until it has been played through 'x' amount of times.
    Paddy Power already have changed their offer to a risk-free bet, i.e. not a bonus, just a refund if the bet loses. I assume this is a way round the tax that most other bookies will have to follow. Pain in the ass for all of us really - this could create a large amount of change to bonuses and 'free bets' in the industry.
    Free bets (sports betting) have been taxed for some while, this is an extension of the current taxation law to cover casino/bingo bonuses so I wouldn't put that change down to tax reasons. In terms of sports betting, bookies haven't reacted to it and I doubt they will. It is a bit different for casino / bingo so that may well change.
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  14. #9
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    Quote Originally Posted by LukeC View Post
    Free bets (sports betting) have been taxed for some while, this is an extension of the current taxation law to cover casino/bingo bonuses so I wouldn't put that change down to tax reasons. In terms of sports betting, bookies haven't reacted to it and I doubt they will. It is a bit different for casino / bingo so that may well change.
    Ah cheers for clearing it up. It's pretty confusing now obviously not having that much knowledge how the casinos/bookies actually account for this stuff at their end.

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