Members of the UK government and officials within the EU are still working on a Brexit deal. It’s proving to be one of the most challenging geopolitical processes in modern history. This week, the UK’s government discussed the impact of Brexit on the gambling industry.
Several major gambling companies have voiced their concerns about Brexit. Many questions remain over how exactly it will affect this industry and the UK economy. Today, we’re going to take a quick look at the current state of Brexit and talk about how companies should prepare for it.
A Quick Look at the Current State of Brexit
Unless you’ve been living under a rock, there’s a good chance you’ve heard about Brexit. In March of 2017, voters in the UK voted to officially leave the European Union. It was a monumental decision and one that has led to a variety of unintended consequences.
Initially, the plan was for the UK to leave the EU by March of 2019. Unfortunately, the EU and the UK have had an immensely difficult time coming to terms on a deal. Several significant factors have stalled negotiations and it’s still unclear when, or if, an agreement will be made at all.
Brexit has even resulted in a change to the country’s leadership. Boris Johnson took over as Prime Minister after Theresa May’s departure and has been working to avoid a no-deal Brexit ever since. With each passing day, the chance of a no-deal scenario playing out becomes more likely.
There are still several steps that need to be taken before a deal can be made. Much of the discussion is currently centered on the Irish backstop, which Boris Johnson desperately wants to avoid. As of now, the plan is still to strike a deal at the EU summit taking place on October 17th.
If this does not happen, the UK may once again request a Brexit extension. There’s clearly a lot going on right now and even the top analysts in the world can’t claim to know what will happen.
This week, the UK Government discussed a topic that’s been on many individual’s minds, the effect of Brexit on the gambling industry.
Officials Warn About the Effects of Brexit on the Gambling Industry
Earlier this year, we talked about how Brexit could impact online gambling companies. At that time, it looked as if the UK was nearly ready to withdraw from the EU. Months have passed and several new issues have come up that could impact internet gambling operators in this country.
This week, the UK government issued a warning to these gambling companies. An eight-point checklist was published that’s intended to help these companies prepare for a no-deal Brexit. Gambling employers in the United Kingdom are now advised to check if their staff need a new visa or work permit.
These companies need to study the EU Settlement Scheme. If the UK leaves the EU without a deal, employees here may be prohibited from working in popular European gambling hubs such as Gibraltar.
The government is recommending that all online gambling operators in the UK offering services to EU countries appoint a representative from the EU.
Officials here are working hard to point out the potential impact of Brexit on the gambling industry. Hope is still that Johnson can strike a deal with EU leaders before October 17th.
Regulations Continue to Hit UK Gambling Companies
For almost all of 2019, lawmakers in the UK have worked on ways to lower rates of gambling addiction. A considerable number of problem gamblers are spread around the UK and the government believes that gambling companies aren’t doing enough to help.
Just last week, reports surfaced that show Leeds is developing a massive gambling addiction issue. According to new reports, more than 10,000 individuals here are dealing with problem gambling. The government has opened a gambling addiction clinic here to help those dealing with these issues.
More regulations are likely on the way. We’ll need to wait and see the exact impact of Brexit on the gambling industry. Stay tuned for updates over the next few weeks!
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...
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