iGaming in Post-Brexit Ambience

Date Published

Authored by

Staff Writer

Blog brexit

iGaming operators in Gibraltar, U.K and Isle of Man were going through tough times in the last few months with Brexit looming on the horizon and abounding uncertainty. Time will say if UK will withdraw from the European Union or not, but this environment of doubt and uncertainty has taken a toll on the well-respected and highly lucrative online gambling industry. 

The U.K Gambling Commission is one of the most respected gaming licenses in the whole world. In fact, they give authorization to some of the biggest giants in the online gambling industry. 

In the U.K, the iGaming industry has crossed GBP 14 billion. In the last few years, the company has become one of the leading revenue generators. The industry also plays a crucial role in paying a large amount of tax revenue, which is again rolled back into public services and for the development of the economy. 

However, with uncertainty looming large for the next few months, it is difficult to say the future and the fate of the licenses hanging in balance. 

Innumerable gambling operators, online gambling industry insiders as well as service providers and their operations might face tremendous jeopardy. This will happen as the withdrawal of UK from the European Union might cause drastic bureaucratic chaos. Depending on the kind of Brexit that takes place, various changes will come in the industry. Current regulations, operating licenses, EU gambling laws and taxation might become obsolete and not be regarded fit for purpose. 

However, many other iGaming operators are still optimistic about the future. To them the U.K gambling industry is quite large enough for surviving the massive impact and blow that withdrawal from the European Union might have. Whatever may be the decision, severe consequences are expected. This is more applicable for Northern Ireland as the place might suffer more. However, a lot will depend on the result of the border issues. 

However, problems have already started appearing for the worse. General uncertainty and stricter rules and regulations have led many operators in leaving Gibraltar, U.K, Isle of Man and Ireland for seeking assurances in foreign jurisdictions. Some of the operators have stayed in Isle of Man and in Gibraltar but they will have to take a decision whether they will move completely to the UK or stop providing services in the country altogether, when the gambling laws will become tougher in the country.

While shifting to other countries, Malta has become a preferred choice for many because of the English-speaking workforce, relaxed regulations and rules and most importantly EU membership. Operators, looking for some assurance find this alternative just perfect. The iGaming sector has seen a lot of development and flourishing there in the last few years. The sector employs as large as 10,000 people, consisting of Maltese population as well as people from all over the world. 

However, there are many other operators who have chosen to leave the European Union altogether and chosen destinations like Curacao and Antigua and Barbuda. Curacao is an excellent option for startups as the licensing is easy-to-obtain and low cost at the same time. On the other hand Antigua and Barbuda have been key players of the game since 1994. 

Top Rated Online Casinos

1Cherry Jackpot

Cherry Jackpot

Overall rating for Cherry Jackpot4 / 5

Bonus Offer

$8,000

  • Get a 400% match deposit bonus
  • Launched in 2017 and licensed in Curacao
  • Good selection of deposit methods, incl. Bitcoin

18+ | New players only | T&C apply

18+ | New players only | T&C apply

2Roaring 21

Roaring 21

Overall rating for Roaring 213.5 / 5

Bonus Offer

$10,000

  • Get $10,000 free sign-on bonus
  • Fully licensed online casino in Curacao
  • 180+ games on offer

18+ | New players only | T&C apply

18+ | New players only | T&C apply

Guides and Feature Articles Similar to this Topic

More News From UK Gambling Commission

The UK Gambling Commission announces new slots restrictions

The UK Gambling Commission announces new slots restrictions

The UK Gambling Commission (UKGC) recently announced new slots restrictions aimed at promoting a safer, less intensive playing environment. Canadian players who engage with UKGC licensed casinos will feel the effects of the new restrictions...

UKGC brings the ban hammer down on Autoplay and Quickspin features

UKGC brings the ban hammer down on Autoplay and Quickspin features

The UK Gambling Commission (UKGC) recently publicised a ‘package of strict measures’ to be implemented as part of new protections and controls for online slots games.In part, the decision was precipitated by feedback from a public...

GambleAware cites BIT study in push for deposit limit flexibility

GambleAware cites BIT study in push for deposit limit flexibility

GambleAware’s campaign to convince more operators to give customers more flexibility in determining their deposit limits has received some clout thanks to the findings published by the Behavioural Insights Team (BIT).The BIT...

GambleAware Ask Bettors to Rethink Behaviours Through Its New ‘Bet Regret’

GambleAware Ask Bettors to Rethink Behaviours Through Its New ‘Bet Regret’

GambleAware, the industry’s weekend charity releases ‘Bet Regret’, the next phase of its campaign for safer gambling, which is targeted at UK football fans to help them rethink their gambling practices.With its punch...

Are Free Play Casino Games a thing of the Past?

Are Free Play Casino Games a thing of the Past?

On 7 May the UK Gambling Commission decreed that all iGaming companies holding a license to operate in the UK must adhere to age and identity checks.  This was an amendment to the LCCP (License Conditions and Codes of Practice...

Rules for age and identity checking becomes effective in the UK iGaming scene

Rules for age and identity checking becomes effective in the UK iGaming scene

The UKGC licensed iGaming operators will now have to abide by the new rules for age and identity verification. This is now mandatory for playing in the online casinos. The much publicized law amendment first made headlines in March...

Continue Reading

Paysafe and Playtech collaborate to enter UK and Europe market

Paysafe and Playtech collaborate to enter UK and Europe market

Online payments solutions provider Paysafe and iGaming supplier Playtech have inked a new cooperative agreement that sees them extend their existing partnership as the payment platform becomes available in the UK and Europe.Both companies...

Relax Gaming releases Temple Tumble 2 Dream Drop

Relax Gaming releases Temple Tumble 2 Dream Drop

Relax gaming has made good on a promise it made earlier this year to wow players with an exciting online slot featuring an innovative new mechanic. The provider recently announced the debut of its brand new title, Temple Tumble 2 ...

Microgaming hands-off gaming content to Games Global Limited

Microgaming hands-off gaming content to Games Global Limited

It has been six months since Microgaming announced the sale of its distribution business and online games portfolio to Games Global Limited. Now, with the deal finalized, the iGaming giant’s lucrative legacy officially has a new owner...

Palms Casino Report Las Vegas open again after 2 years

Palms Casino Report Las Vegas open again after 2 years

The Palms Casino Resort in Las Vegas had lain dormant for two years, but now with pandemic fears abating, the venue has returned to welcoming patrons again. The property re-opened to the public on April 27, 2022.The Palms General ...

Play’n Go launches Lordi Reel Monsters slot

Play’n Go launches Lordi Reel Monsters slot

Iconic horror rock ban Lordi lends its grim visages and terrifying tunes to a brand new Play’n GO online slot, Lordi Reel Monsters, an experience that just might rock your socks off.The Finnish heavy-metal band rose to fame at the...

Relax Gaming taps Gaming Realms to develop a new title

Relax Gaming taps Gaming Realms to develop a new title

Leading iGaming Supplier Gaming Realms recently confirmed that it had secured a new licensing agreement with games provider and aggregator, Relax Gaming. With the agreement in place, Gaming Realms will now develop a new Slingo game...

?>
VIEW ALL NEWS