Will Leaving The EU Affect The iGaming Business?
Published on by Becky Mosley
As we’re sure you know, citizens of the United Kingdom are currently casting their votes on whether we should leave or remain in the EU. According to a recent Ipsos MORI poll, it appears that we are most likely to leave the EU, with stats standing at 53% Leave and 47% Remain, indicating a 10% rise in Leave votes.
Leave Or Remain?
Economists and politicians who are supporting the decision to leave suggest that we will benefit significantly by separating from the EU whilst also denying the Chancellor and Treasury’s claims that we will suffer financially if we leave. For example, the government has suggested that jobs and income will be lost but Leave supporters are willing to wait for the financial benefits said to appear in five years.
POC Tax
Regarding the iGaming industry, most specialists believe that our decision to leave could have a huge impact. Firstly, the point-of-consumption tax will be removed but adapting to the new scenarios and regulations will take time, two years to be exact. These changes would also need additional investment from companies meaning a loss for stakeholders.Needless to say, those of us involved in the iGaming industry at any level should pay close attention to the referendum and the consequences.