There are many industries that will be affected by Brexit, especially if it happens with no agreed deal in place. Some people may be surprised that some of the industries that could be affected are online casinos, online bookmakers and online poker sites. The online gambling sites in the UK are strictly regulated by the Gambling Commission and they have to operate to the high standards that are laid down in law. This is good news for UK players, but also, the casinos are used in many of the other EU countries. With no deal in place, other EU countries may stop access to UK sites for their population and that will affect their profits.
As Business Matters pointed out last year, another problem could be any changes to the UK regulations on gambling. The government will have to decide if the players in other countries will have the same benefits as ones in the UK, for example.
The worst case scenario if the Brexit deal fails is that Britain will have to fall back on World Trade Organisation (WTO) rules. Basically, this could prevent any gambling companies based in Britain from taking part in any bidding processes within the EU, as gambling is excluded from any market-access commitments.
Online poker could be one of the first to notice a difference if this happens because they have many players from overseas. They could have fewer players from overseas in tournaments, which would affect the amount of money in the prize pots.
None of these situations is guaranteed though; it is all ifs and maybes, which is the same as is happening in most industries in the UK.
An Optimistic Gambling Industry
Many of the largest online casinos are based in the UK. Some of the companies believe that it is casinos from other EU countries that will be more affected by Brexit than they will be. Non-UK based casinos could find the access of British players is denied, which will mean there will be more of them playing in their own country.
Players in the UK are not only lucky to have some of the best online casinos in the world with their headquarters in Britain, but they also have some of the best sign up and loyalty bonuses. This makes playing in a UK based casino a clear winner and, as this is not likely to change after Brexit, it shows why sites such as SetThings believe that UK can be optimistic about the future whether there is a Brexit deal or not.
The Gibraltar Question
Gibraltar is an overseas British territory that will leave the EU at the same time as the rest of the UK. The online casinos that are based there will face the same advantages and disadvantages as the companies based in the UK. Outside of online businesses, Gibraltar will be more affected because of the thousands of Spanish people that cross the border to work there every day. This could mean that the principality will look for closer ties with the rest of the EU than Britain will have, and that is something online gambling companies will have to consider when they are deciding on the best place to have their base.