The United Kingdom views the phenomenon of gambling in a rather straightforward way. Gambling operators, on the other hand, may have a difficult time keeping up with them. If you are curious about how the United Kingdom regulates different forms of gambling, keep reading.
Gambling in the UK
In case you are a resident of the United Kingdom contemplating engaging in gambling, rejoice. You will find it easy to understand and obey the UK law regarding the matter. In general, the majority of gambling forms are legally recognized and allowed within the territory of the United Kingdom. Not only are they legal, but they are also thoroughly and attentively regulated.
The UK gambling market comprises both traditional and virtual gambling. Therefore, depending on your personal preferences, you can choose whether to enter a brick-and-mortar casino or gamble virtually.
The United Kingdom Gambling Commission regulates both forms, and further answers to the government’s Department for Culture, Media, and Sport. The legal act according to which the UKGC monitors the activity is the Gambling Act of 2005. However, spread betting is the only form of gambling not regulated by the Commission. The Financial Conduct Authority is in charge of it. The obligations of these regulatory bodies are to make sure that all gambling services fulfill the necessary criteria.
Since the United Kingdom monitors the gambling market well, it comes as no surprise that this branch of industry is thriving within its borders. As a result, gambling enthusiasts from the UK have a vast number of live casino games, poker rooms, and retail betting shops at their disposal. For those who prefer to play their favorite games in the virtual world, online gambling is a legitimate option. The UK Gambling Commission provides locally hosted gambling sites with its licenses. In addition to that, a number of offshore virtual casinos accept the players from the UK and provide them with their services legally as well. Therefore, if you are a British gambler, you have a variety of options to choose from when it comes to this activity.
The United Kingdom Gambling Commission and the Gambling Act of 2005
The founding of the UK Gambling Commission was contingent upon the Gambling Act of 2005. Not only did this regulatory body assume the responsibilities the Gaming Board for Great Britain had been holding, but it also obliged to monitor the virtual form of gambling as well. In addition to that, it became responsible for the regulation of the National Lottery. This enterprise had been previously controlled by the National Lottery Commission.
According to the law, the UK Gambling Commission has the power to issue gambling licenses. Additionally, this licensing body has the authority to impose fines and take the licenses away in case the operators fail to obey the law. In fact, the goals of the UKGC are the following:
- making sure gambling is not associated with crime;
- supervising the way this branch of the industry operates;
- providing protection in terms of gambling for children and minors.
As for the virtual gambling world, only the websites hosted in the UK can obtain a license provided by the UKGC. So if you’re eager to enter one of the online casinos hosted elsewhere, you need to make sure it holds a license of one of the jurisdictions the UKGC approves of.
Being a Gambler in the United Kingdom
Being a gambling enthusiast in the United Kingdom is not much of a challenge. This region profoundly regulates this branch of industry. And provided that you meet the requirements imposed on you by the law, you can gamble safely. Therefore, if you are at least 18 years old and you stick to the gambling websites marked as reliable by the UKGC, you don’t have to concern yourself with the possible consequences.
However, since gambling is lawful and regulated in the United Kingdom, it implies taxes. Nevertheless, that is another thing you as a gambler don’t need to worry about. The United Kingdom taxes gambling winnings, but the ones who need to pay the taxes are the casino operators. Therefore, the money you collect from this activity is all yours.
Modifications Regarding the UK Gambling Legislation
As we have stated at the beginning of the article, the UK gambling law is not difficult for the players to comprehend. Therefore, possible changes should not concern you, as they are definitely not going to affect you in any negative way.
Although, one possible modification the UK gambling law could sustain in the near future is the Gambling (Licensing and Advertising) Bill. This legal document proposes allowing only the gambling websites licensed by the UK Gambling Commission to offer their services to UK residents. In case the Parliament approves this bill, it will become a law, and all the online casinos looking to accept UK gamblers will first have to acquire the UKGC license.
Nevertheless, provided the UK incorporates this proposal into its gambling market, the players will not sense any significant changes. The UK Gambling Commission is among the most reputable jurisdictions in the world. Therefore, the UKGC limiting you to the websites that hold its license is an advantage, because you can feel free to trust such websites with your funds.
How Are the Lotteries Regulated?
The National Lottery of the United Kingdom obeys strict rules as well. It was established in 1993, and it has been running ever since, comprising various games for the UK residents to enjoy. However, lottery games differ from casino games in one essential aspect. Whereas you can make a clean profit from gambling at a casino, 28% of all the lottery winnings go to charity, to the fund “Good Causes.” In addition to that, the state acquires 12% of the lottery money and 15% of the winnings for the organization of the event.
Penalties for Illegal Gambling
Given that the law of the United Kingdom recognizes this branch of industry, breaking the law by engaging in illegal gambling can cause severe legal consequences. The list of offenses and the relevant penalties is available in the Gambling Act of 2005. The penalties comprise fines and imprisonment. It is highly recommended that you study this list before you decide to participate in any gambling activity.
As you can see, the United Kingdom takes gambling seriously and approaches the subject responsibly. Given that this activity is also a rapidly developing industry, it does not come as a surprise that the government seeks to keep up with it.
The gambling legislation covers all the aspects of the matter. Therefore, regardless of whether you prefer sports betting to casino games or vice versa, you are able to find a segment of the law addressing it. In case you consider yourself a gambling enthusiast and you happen to be from the United Kingdom, the law is on your side. Your country has organized your favorite pastime in such a manner to protect your privacy, safety, and money.