It has been two very hectic years for the online gambling industry. First came the UIGEA in 2006, banning all payment companies from sending or receiving payments from online gambling sites. The latest developments is the British gambling act, which approves advertising online casinos in Britain, but only from a list of certain countries that have been approved.
Following the launch of the British Gambling Act on September 1st, many online gambling operations have moved their bases of operation to the countries that appear on the "White List" in order to be able to advertise within Britain. These countries are those that the British Government has found compatible with its strict regulations.
Malta is one of the countries that are on the White List, and it is also one of the countries that is beneficiating the most from the new gambling act. No fewer than 27 different online casino companies have filed for a charter there. As of September 1st there were 84 online gaming companies chartered in Malta, with an additional 36 companies awaiting approval of their license applications.
However, not everyone in the industry is pleased with the developments, however. The main purpose of the act was to draw online casinos to set up shop in the UK, be regulated and advertise, legally. However, only 14 of the thousands of online gaming companies have filed for licenses in the UK, due to the decision that online casinos will be taxed at the going rate given to land based casinos, 15%.
Malta’s reduced tax rates cut to 2.5% makes it a popular choice as opposed to the UK tax rate.
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