After a solider wins £13.2m after gambling 25p online, online betting has never been more prevalent. Long gone are the days of smokey, dirty bookies; today, we like to spend our time doing it in a whole different way.
The UK online gambling industry employs over 6,000 full-time employees, and makes over £13,000 million per year, with figures rising as more people get involved.
Where gambling online was once a risky thing to do, times have changed and new regulations make it easier than ever to get involved, and makes it more competitive between online gambling websites, which makes a better service for the end user.
Mark Jordan, a partner at accountancy group PWC, says that UK’s crackdown on gambling websites centralised in Gibraltar, like Ladbrokes’, Bet Victor and Stan James, is good for the UK economy.
He says: “Previously if I was headquartered in Gibraltar offering online betting to someone in the UK, that would be tax free, whereas now there is a point of consumption tax which is levied by HMRC at 15%.”
“Gone are the days when you could just sling up an online casino and watch the money roll in.
“The online market is much more competitive, so your site has to feel right, look right and that costs money.”
Fancy a flutter? Play now at Netbet Casino.