UK-based bookmaker William Hill has further strengthened its relationship with NMi, a company it has had a long-standing association with. It is getting his complete suite of web-based casino games tested to comply with the directives of the new Gambling (Licensing and Advertising) Act that have come into effect in the UK from the November 1, 2014. As per this law, all operators who deal with customers in the country have to get tested and comply with the new standards within 12 months from the date of the new law being enforced.
NMi is one of the top compliance testing companies in the UK, with years of experience in testing online casino games for compliance with UK laws and rules.
New UK licensing laws set to transform the iGaming industry
According to the new law, all operators, like William Hill, who deal with customers within the country, irrespective of whether they are physically based out of UK or not, have to now pay taxes to the national government. The taxes have been fixed at 15 percent of gross profits. Until now, operators used to shift base outside the country to avoid paying taxes for their business. However, no matter where they are located physically, they have to part with a portion of their profits if they have customers who are based out of UK.
Operators and RGA unhappy with new laws
The Remote Gambling Association (RGA) contends that 15 percent taxes on gross profits is unsustainable and will affect the industry in the long run. They argue that taxes of anything over 10 percent of profits are not viable. This new law means that operators will now have to rethink their budgets and strategies since this new development will increase their operating costs significantly. Bookmakers will have to now grow their businesses in foreign markets to counter this increase in costs.