Active Players: More that 35.000.000
Currency: British Pound
Regulated Gambling Products: Sports Betting, Online Casino, Poker
Operator Types: Online Betting Sites & Betting Shops
Designated authority: United Kingdom Gambling Commission (UKGC)
Status:Regulated both for online and offline companies
The United Kingdom as we all know is situated on the western part of Europe and consists of the three countries on the island of Great Britain (England, Wales & Scotland) plus Northern Ireland. It is the fourth most densely populated territory in the European Union, were 65.000.000 people live and has a long history concerning betting on bookmakers. The most popular sports include football, horse races, greyhounds and rugby (union and league). According to a recent survey from the Guardian, 55% of the total population engage in gambling activities, at least once every four weeks, either online or on betting shops which amounts to a staggering £3 billion annual turnover.
5 things to know about betting in the UK
- Players under the age of 18 are restricted from betting
- Scratch cards, lottery and football pools are legal for players older that 16
- All winnings are tax free, regardless of online or offline betting
- You may be restricted from completing any transactions with unlicensed bookmakers
- Your financial safety is guaranteed by the UKGC
Top 3 British Bookmakers
Since 2005, gambling in the UK has been regulated by the United Kingdom Gambling Commission (UKGC), which is undoubtedly the most prestigious authority in the world. They are tasked with making sure that every bookie maintains financial transparency and treats players fairly according to the 2005 Gambling Act. This means that bookies are prohibited from offering their services to minors, while they must obtain a license in order to operate.
Nowadays, a player is free to choose whichever betting firm he likes, however, the UKGC will not protect him if he happens to choose to punt on an unlicensed bookie. He should do well to remember that in such a case, there is no guarantee that he can actually withdraw the money found on his balance. On the other hand though, if a punter has a complaint with a licensed betting firm, he can easily contact the UKGC and if his claim is valid, then he will surely receive his money. Taxes wise, bettors are not obligated to pay a portion of their winnings and receive full payouts, as land based and off shore bookies must pay 15% on gross gaming revenue.
Competition between bookies
Given that the UK is one of the biggest worldwide betting markets, a fierce competition exists among countless bookmakers. This is also were many top betting firms were first established, so it is only logical that they retain their player base. Bookie giants such as Bet365, Betfair, William Hill and Ladbrokes hail from Britain, while the equally reputable Stan James, Sportingbet, Coral and Betfred have their base in the UK.
Deposits and Withdrawals
The UK is one of the most advanced economies in the world, which leads to local bettors having a great number of transaction methods at their disposal. This means that a Brit can use every major e-wallet (skrill, paypal, neteller etc.), credit or debit cards as well as paysafe cards, Ukash vouchers and bank wire transfers. However, given that unlicensed bookies cannot operate in the UK, banks will generally block transactions taking place with them. Additionally, the UKGC remains sceptical to the use of bitcoin, due to the controversial use of the crypto currency.
Book Spy’s Comment
Honestly, not many complaints can be made towards Britain when it comes to how they regulate gambling. The firm but fair regime of the UKGC, the endless betting options and a long culture in sports wagering, have made the UK the most important iGaming hub in the world. Other countries should try to emulate them, as the low taxes are doing wonders not only for the competing operators but for local punters as well. The only questions that still hang upon Britain, are purely based on morality, as critics are voicing concerns on some players’ problematic behaviour and greyhounds races.
Best football betting sites in UK
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