U.K. Brings in New Gambling Law

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U.K. Brings in New Gambling Law, Opens Web Casino Betting, Ads

By Caroline Byrne

Aug. 31 (Bloomberg) -- Britain's new gambling law comes into force at midnight, legalizing U.K. advertising campaigns for the first time and licensing online casinos that can accept bets from gamblers worldwide including the U.S.

William Hill Plc, Gala Group Ltd., and 13 other companies find out tonight if their virtual casino licenses have been approved to start accepting bets immediately, a spokesman for the Gambling Commission, the U.K.'s new regulator, said today. More than 300 others applied to operate licensed online sites including sports betting under the Gambling Act 2005.

The U.K. law highlights a potential conflict with the U.S.'s Unlawful Internet Gambling Enforcement Act, adopted in 2006, which prevents credit-card companies from collecting payments for online bets. The legislation has prompted gaming companies to shut down U.S. operations to focus on Europe and Asia.

``We aren't banning people from using Web sites based in the U.K.,'' Julia Smith, a spokeswoman on gambling for the U.K.'s Department for Culture, Media and Sport, said in a telephone interview. ``It is up to the consumer what they do.''

The U.K. law also allows gaming operators in other European Union countries to advertise in Britain for the first time, prompting some companies to apply for licenses in low-cost countries such as Malta, which has a 5 percent corporate tax and no extradition treaty with the U.S.

Full story Source: Bloomberg

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