The UK’s departure from the EU at the start of the year has had profound effects on every industry, from financial services to retail, healthcare to hospitality, and beyond.
It’ll also affect the gambling industry, meaning you might find it harder to enjoy that cheeky game of online poker, or play in that tournament you enter every year.
You might find the changes to regulation overwhelming, but don’t worry; we’ve put together a guide to how Brexit will affect the gambling industry to help you understand the changes.
It Might Become Harder To Find Trustworthy Online Gambling Sites
Thanks to GDPR, many blog sites may find themselves unsure of whether their sites are legal after Brexit, leading them to stop offering their content to UK readers.
This may make it harder for you to verify whether or not a site is legitimate or research the pros and cons of using a site before you start putting your hard-earned cash into it.
One site that’s not going anywhere and offers trusted reviews and insight from real gamblers is AskGamblers.
The site is committed to finding the best new online casinos and providing you with insight into whether they’re worth your time or not.
This means you can spend more time playing and less time searching for legitimate, trustworthy sites.
Casinos Might Struggle To Find Staff
In the world of physical gambling, you might notice some of your favourite casinos closing down or reducing their games in the future.
That’s because the UK’s moving to a points based immigration system, which will make it harder for workers without skills to come to the country.
For casinos, this could mean that bar staff, doormen and croupiers are in short supply.
This could, potentially, mean that you won’t be able to go to the casino as often, and if you do then you’ll find fewer games going on.
This change will mean a lot for Best Men up and down the country.
Where will they hold their stag dos now?!
Sites May Need To Apply For New Gambling Licenses
The UK has strict rules for companies that allow gambling, including requiring them to have a license.
Now that the UK is out of the EU, many companies headquartered internationally may find themselves having to apply for a separate licence to operate in the UK.
You might not think that matters, but it does.
Gambling licenses cost money, and if companies have to buy a separate one to operate in the UK, then firms may withdraw from the UK market.
If they don’t, they’ll probably raise their prices to cover the cost.
Either way, it’s not great for players who are fans of international gaming sites.
Anti-Money Laundering Rules May Change
When the UK was in the EU, it abided by the union’s rules, including its strict anti-money laundering rules.
Now that the UK has left, it has the power to set and change its rules, meaning that companies operating internationally may find themselves having to abide by two sets of rules.
Companies operating solely in the UK may find that the rules change, meaning that they may have to adapt their processes.
This might mean that they’re able to relax their procedures, or that they have to tighten up their online security to prevent money laundering.
It’s too early to tell what will happen, but the possibility for changes to the UK’s anti-money laundering rules is another uncertainty for the gambling market.
Gambling Companies Based In Gibraltar May Struggle
Gibraltar might just be a small island off the coast of Spain, but it plays a big part in the UK’s gambling industry.
Many gambling companies have headquarters in Gibraltar, but because the country is so small, they hire staff from mainland Spain, who cross the border and back every day for work.
Currently, Gibraltar is a British territory, although there are talks that Spain may try to regain control over it.
As it’s a British territory, Spain may choose to close its border to Gibraltar now the UK’s out of the EU.
If that happens, gambling companies would struggle to get the staff they need.
That might lead major sites to move out of Gibraltar.
If they do that, they’ll end up paying more taxes, licensing fees and general business costs.
These costs will probably be passed on to the customer, meaning that gambling with these companies will be more expensive.
We’re not talking little small fry here; big players like BetVictor, 888, Playtech and more are based in Gibraltar.
So, any changes to the country’s laws could spell big trouble for the gambling market as a whole.
At the end of the day, change is never easy.
It’s going to take the gambling industry, and the world economy as a whole, a long time to adjust to Brexit.
In the meantime, what’s important for gamblers is that you stay vigilant, watch out for scam artists, and play your best game.