Britain Introduces Legislation Set to Open Up Online Gambling Market

It seems that the whole of Britain has gone mad over betting, with newsstands overflowing with gambling magazines and even one national newspaper launched last month that's dedicated to games of chance.

This year, Britain has even opened the world's very first casino college, where the very serious learn the ins and outs of the trade. The government has even expressed hopes for Britain to become the global hub for online gambling.

Britain has already made a head start in promoting the industry, having betting games on almost everything that's "bettable", including horse racing, soccer matches, reality TV show winners, and even the Oscars. The betting sites are legally operated, as they pay 15 percent of their gross profits in tax. The trade has been good so far as tax proceeds from the industry have topped $2.5 billion since 2004.

Now the government will be taking it to new levels, as the Parliament has enacted a new legislation that will open up the online gambling market beginning next year, to the more traditional casino games like poker, blackjack, and roulette.

The Brits already play these games by the millions, but the operators of the gambling sites are mostly based offshore. By introducing the legislation, the government is hoping to lure these companies to move to British soil, and bring in even more revenues into the treasury.


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