UK to legalise online gambling
The Business Weekly has reported that British lawmakers are about to pass legislation as early as next year that will legalise online gambling, paving the way for the country to become the capital of online casino gaming.
The article reports that Britain will become the first developed country in the world to legalise online gaming, effectively securing them a tax revenue jackpot as gambling companies across the world will flock there to set up legitimate operations from a respected base.
Britain actually has a history of leading the way in the gambling markets, as it was the first country to legalise online sports betting.
The move should come as a blow to America, which despite being the source of nearly 80 percent of online gaming revenue, still collects no tax from the industry.
The article reports that Britain will become the first developed country in the world to legalise online gaming, effectively securing them a tax revenue jackpot as gambling companies across the world will flock there to set up legitimate operations from a respected base.
Britain actually has a history of leading the way in the gambling markets, as it was the first country to legalise online sports betting.
The move should come as a blow to America, which despite being the source of nearly 80 percent of online gaming revenue, still collects no tax from the industry.
posted by Glenn at Monday, May 22, 2006
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