Do professional Gamblers Pay Tax in the UK?


French gamblers pay tax. Macau players are taxed. USA gamblers must pay their dues or go to jail. But then there is the UK. You can make millions playing online poker and table games, and you're allowed to keep all your money.

Gamblers in England, Scotland, Wales and Northern Ireland follow the same gambling laws. And this means there is no region in the UK where you will be taxed for winning gambling money. Continue reading to find out more about the experience of gambling in Great Britain.

Casino Regulators

The UK is home to three of the world's most trusted online casino regulators: The Gibraltar Gambling Commission, the UKGC and the Alderney Gaming Control Board. The UK Gambling Commission mostly oversees casino operations within the UK.

Alderney and Gibraltar, on the other hand, regulate casinos that operate both within the UK and Europe and beyond. The UKGC also permits gambling sites licensed in the Isle of Man, Antigua and Barbuda, EEA Countries and Tasmania to offer their services to UK citizens.

Unlike some foreign casino regulators, UK-based regulatory bodies actively monitor casinos to prevent corruption and fraud. Occasionally, the UKGC also closes down gaming sites found to be operating illegally.

Collecting Taxes

Just because the UK doesn't take money from gamblers doesn't mean it doesn't collect revenue from gaming sites. Quite the contrary, HM Revenue, and Customers raised nearly £3 billion last year by taxing gambling companies 15% of their annual net income.

UK online casinos are tremendously ambitious, which helps them dominate the gambling industry all around the world. And while they do pay taxes on some of the foreign countries where they operate, Britain collects most of the tax payments.

Add on to what the government collects from sports betting companies and the UK is in no shortage of gambling money. Of course, HM Revenue and Customer could always decide to tax professional gamblers in the future. But presently, the tax collection department allows players to keep all their winnings.

Casinos in the UK

If you've played online casino games before, you've probably come across an online gambling site based in the UK. Some are successful brands that sponsor the best sports teams in the world.

Bet 365, for example, sponsors nine of 20 La Liga teams. William Hill, Betfair, 888 Casino, Betway and more brands have partnerships with sports teams throughout the UK, Europe, and Northern America.

Obviously, you don't want to join a casino because it's financially robust. But the massive success of UK casinos is proof UK gamblers are spoilt of choices when they need to join new gambling platforms.

Because of the wide variety of online casinos that accept British players, some casino brands own multiple websites with games targeting specific groups of players. The 888 Casino brand, for instance, features dedicated bingo sites, poker, sports betting and blackjack sites.

Playing on sites that focus on particular types of games has its benefits. You receive bonuses personalized for your favorite games. If you join a bingo website, you receive rewards customized for bingo rooms. If you join a poker website, you'll get plenty of free bets to play the game.

Software Providers

Although some companies offer in-house games, most gambling sites in the UK provide games supplied by independent developers. Homegrown software maker Microgaming is featured in nearly all UK gaming websites. NetEnt comes in second with more than 100 slot games supplied to casinos.

If slot machines are your favorite casino games, look out for NetEnt and Microgaming when choosing a casino. The two companies provide more than 600 slots. They're also responsible for the Mega Moolah and the Mega Fortune jackpots respectively, games which have turned hundreds of players into millionaires.

Additional companies known for providing entertaining casino games to UK casinos include Quickspin, Play'n GO, Playtech, IGT, Realistic Gaming, Evolution Gaming, BetSoft, and Amaya Gaming. In total, more than 50 developers are licensed to supply games in Britain, which gives players the variety to play from more than 2000 games.

If you're like many players, you have a few providers whose games you cherish. You probably wouldn't join a casino that didn't support games from your favorite software supplier. Luckily, there are so many casinos in the UK that you're almost assured of finding a platform that offers games you'll love.

Banking Options in UK Casinos

Whether you love credit cards or PayPal, Bitcoin or bank transfers; there is a casino ready to facilitate your payments. Pick your preferred payment method carefully, and you may never have to pay deposit or withdrawal fees.

What's more, some payment methods are faster than others. Payments through e-wallets, for example, take less than five minutes to be finalized. Bitcoin payments can take up to one hour, but they're faster than wire payments.

If you can't decide which banking options you want to use for online gambling, pick them based on their bonuses and limits. Some casinos won't offer you welcome bonuses if you make deposits using e-wallets. Others limit your minimum and maximum payment amounts when using digital currencies.

Mobile and Customer Support

All the best UK casinos are mobile-responsive. You can play slots, poker, and bingo using your smartphone smoothly even without downloading a mobile app. Most gaming sites operate through web browsers, which help you save storage space on your device.

When it comes to customer support, British casinos provide live chatting, emails and phone support. Live contact allows you to communicate to the support team immediately you experience a glitch on your slot machines.

Email support comes in handy when you want to attach proof of a glitch or when live support is available. Phone contact, on the other hand, lets you explain your problem with clarity. You also get an immediate response, especially if support members are knowledgeable of your issues.

To Conclude

While it's not perfect, the UK is one of the best places to be a professional gambler. You have access to the world's best gambling sites. You don't pay taxes on your wins, and there's a reliable regulator that resolves players' issues fast and effectively.



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