The United Kingdom has decided to withdraw from the European Union and this decision seems to be a true mystery for millions of people all over the world. Apart from the impact of Brexit on the United Kingdom, the world of online gambling is also interested in the influence of the British withdrawal on the industry. Letís discuss opinions of expects concerning the ways Brexit may affect online gambling.
Mark Blandford, founder of Sportingbet plc, believes that Brexit will surely affect the online gambling industry in the near future. Brexit is especially important to the operators that are licensed outside the EU. It will mainly affect less famous gambling operators, since major market players prefer licensing in the European Union. The companies whose licenses are issued by the Government of Gibraltar will suffer. However, Blandford thinks that in the future they will be able to solve their problems.
Joseph Cuschieri, Executive Chairman of the Malta Gaming Authority, believes that it is too early to talk about possible effects of Brexit on gambling. The situation is far from being obvious.
David Schollenberger, Head of Gaming and Leisure at the Healys Law Firm, reported that Brexit would have a negative influence of the online gambling industry, since the economic situation and uncertainty in taxes might affect the attractiveness of the UK market for investors.
The famous investor Michael Caselli paid attention to the future of Gibraltar. According to him, if Gibraltar is controlled by the United Kingdom, its residents will be able to face problems with crossing the border of Spain. If it is owned by Spain, it will be necessary to change official licenses.
Phil Fraser thinks that the effects of Brexit will be seen not very soon. The changes will require years. He agrees with Mr. Caselli and believes that the issue of Gibraltar seems to be very important.
Andy Blackburn, Owner of GameOn, said that Gibraltar had over thirty gambling houses. So, twenty percent of its GDP is provided by the gambling business. However, many Spaniards are working in Gibraltar. So, the issue of border crossing will be crucial.
The gambling consultant Steve Donoughue believes that the British withdrawal from the European Union is a mistake. However, he cannot predict the consequences of this decision for online gambling. Donoughue thinks that recession is waiting for the industry. Moreover, other countries may follow the United Kingdom and leave the EU. So, this may lead to border closing and problems with employees. The independent governments will probably want to control local gambling-related offers.