It was dubbed as one of the most important General Elections in the UK’s history. And last week, the Conservatives regained their office majority after a landslide victory against Labour.
Both of the two main parties vying for power had proposed either reviews or changes to online gambling laws in the country. It’s now probable that Brexit will happen, too. So, there’s a lot for affiliates and operators alike to digest.
What can Britain’s iGaming industry expect to happen now? That’s what we’ll take a look at in this blog post.
The Conservatives’ stance on online gambling
The Tories had a more lenient outlook on iGaming from the campaigning get-go. It stated that current regulation – namely the 2005 Gambling Act – would be reviewed.
Labour, on the other hand, weren’t as liberal. There had been demands from within, from individuals such as Tom Watson, to make significant changes to current laws. He wanted a ban on both gambling ads and credit card deposits to be considered. Moreover, some wanted to push for higher spending on social problem initiatives.
It’s true that any possible changes to gambling regulation probably won’t be as big as if Labour were preparing to enter parliament. But that doesn’t mean there won’t be any. After all, the current act was introduced in the early days of iGaming. Updates might therefore be necessary, but how the Conservatives view existing legislation is yet to be seen.
Ever since becoming Prime Minister, Boris Johnson has promised to deliver a withdrawal from the European Union. It’s now probable that will happen.
Until Brexit officially happens, nobody knows what its impact will be on the UK full stop – let alone the online gambling industry. A lot of it might come down to whether or not it happens with a deal.
The country could now escape potential tax changes that the European Commission is considering for digital companies. Though these proposals are aimed to target the likes of Google and Facebook, others will be affected. For example, it’s been predicted that new laws could have a big impact on Malta’s iGaming industry.
But in terms of the operations of EU companies in the UK and vice versa, we’ll have to wait and see.
Now that the election has passed, everybody in the UK has a bit more clarity over the possible routes that will be taken in both domestic and international senses. However, a lot is still up in the air. Online gambling might not be shaken up as much as if Labour had won last Thursday’s vote, but that doesn’t mean that they shouldn’t prepare for possible to the current Gambling Act. With regards to Brexit, we’ll have to see if see how messy the divorce with the EU is and what its terms and conditions are.
Whatever happens to the UK online gambling industry now, the best thing you can do is grow your affiliate marketing skills so that regulations don’t affect you as much. Our fundamentals masterclass might be just what you’re looking for.