Gambling In UK

UK Gambling Tax

Gambling is definitely not a new business in the United Kingdom. In fact, it has been more than 40 years when gambling became a legal stuff in the UK. This is the reason why casino industry has been able to flourish so comfortable in this country. So, let us provide you some crucial information about the different aspects of gambling in the UK.

Best Deposit and Withdrawal Method in the UK

Most of the sites that entertain players from the UK offer wide range of options for making transactions. However, Master Card, VISA, Credit card, Paypal, and Maestro are the most preferred options. In addition, you can also make payments through other options like Moneybooker, NETeller, Check, Eco Card, Click2Pay, Wire transfer, U Kash, Click and Buy, Use My Bank, Entropay, Pay Safe Card, Ezi-Pay, and E-cash card. So, there is no shortage of options in this case. However, before you choose any option, make sure the online casino does not charge any fee against it.

UK Gambling Tax Info

Like we mentioned above, gambling is considered as a legal business in the United Kingdom. It is controlled by the Gaming Commission on behalf of the DCMS or Department of Culture, Media and Sport. DCMS is a government body. As far as taxation on gambling in UK is concerned, gamblers do not have to pay any kind of tax on their winning amount. So, that is certainly something good for the gamblers. However, online casinos do have to pay taxes on the profit earned by them. For profits earned through UK customers the online casinos will have to pay 15% as tax. However, there is no tax levied on the profit made through offshore business. All these taxation rules were imposed lately. Therefore, when you play casino games at UK casino sites, you can be rest assured that no tax shall be levied from you.

Legality Aspects of UK Gambling

All the online casinos in the United Kingdom are licensed under the Gambling Act of 2005. If we take law into consideration, we will find that there are no laws related to the gamblers, expect that they have to be over the age of 18 years. For the online casinos, it is important to have proper license from their respective jurisdiction and DCMS as well. In addition, they have to pay the taxes in order to maintain the validity of their license.