Archive for the ‘Gambling’ Category
Posted on August 11, 2009 - by admin
Taxation Killing UK Gambling Industry
The UK gambling industry has just about had enough of the increasing levels of taxation imposed by our government and in order to survive are being forced to set up offshore. The countries with low gambling taxes are the ones that are expected to benefit from these moves and countries such as Gibraltar, the Isle of Man and Malta have been named as potential destinations.
Low gambling tax economies had before proven popular with betting organisations during the establishment of online casinos around a decade ago. There used to be a levy of 9% of the value of a bet that had to be paid to the government every time a bet was placed, and online this simply was not viable, so these online ventures were set up overseas in order to bypass the levy. The UK government, not willing to lose all taxation on these online operations, agreed to stop the levy and replace it with a 15% tax on profits rather than bets.
In these times of relative austerity as compared to the early years of this century, this 15% rate of tax has proven to be a heavy burden for the industry, and they feel that their hand has been forced. Competition with overseas online gambling operations that do not have to pay these levels of tax is proving to be the deciding factor.
The UK government is not too pleased about all this and consider themselves betrayed. This is vehemently denied by the industry which states that times have changed and the online industry has developed far beyond what people considered possible a decade ago. Neither the government not the industry were able to forecast the amazing growth of this sector, possibly fuelled by a booming economy and lots of disposable cash.
It is believed that the government is unwilling to take this loss of tax revenue lightly. Draconian reprisals and new taxes are anticipated, particularly with regard to slots and roulette machines.
Posted on February 2, 2009 - by admin
The Old Undying Art of Gambling
To gamble is a psychological urge present in humans since the dawn of civilization itself. It is found in all human beings in varying degrees. It can also be stated as an act to comply with the immediate gratification of a basic need that would otherwise result in a monotony of existence. It is an inherent quality, or rather disqualifying aspect, in man since the ancient days and has been viewed in bad light due to its often unsocial and self destructive character.
The term ‘gamble’ is more readily associated with the wagering of money. Here in the casinos, public places, saloons or bars, the very idea is to make a pot full of money through gambling of various types. Here, in practice, one person’s win is another person’s loss. A winner on one day may even turn out to be the biggest loser the next day. A few wise ones quit while they are ahead, and made the most of their winnings. Most types of gambling, for instance the lotteries, slot machines, bingo or poker and many others, are unpredictable and hence require no knowledge or any special skills. One might say that here luck, and only luck, counts. In the case of gambling, such as horse racing, grey hound racing, soccer betting and other sports betting, a degree of skill is required and hence is to some extent predictable. In fact, people tend to gamble even if there are rules or a total ban. It is but human nature to revolt.
Posted on December 28, 2008 - by admin
A Whole New Way to Gamble
Gone are the days when you had to visit a particular city or place to enjoy a game of blackjack or slots. Today you can do it from almost anywhere in the world, as long as it is legally allowed, sitting in the comfort of your home and enjoying a drink or chatting with family while you try your luck.
However, before you plunge headlong into the world of online gambling, do ensure you know what you are dealing with. Gambling can be addictive, and many people have lost their life’s savings trying to earn a few quick bucks. Also ensure that the sites you visit are legitimate and that they provide adequate security and assistance. Try not to start playing for real money unless you know how the site works and if it is a legitimate operation or not. Many well established gambling sites even take beginners under their wings and help them out until they are confident enough to fly on their own. You can also find a number of casino reviews online, which will help you choose the right kind of site/s.
Online gambling can be fun, as long as you know where to draw the line. Many online gambling sites also provide help to people who may feel that they need to stop but are unable to do so. You can also opt to suspend your account for a certain period of time until you are sure that you no longer feel threatened about going overboard with your gambling habits.
