Thought of as almost impossible

Brexit assets change

It would be an understatement to say that UK politics are strained and with the 29thof March just around the corner, parties are divided, EU politicians are frustrated with the inability of Teresa May to come up with acceptable options, and news bulletins show little optimism.

In fact, the once thought as almost impossible, the threat of a ‘No Deal’ Brexit could actually turn out to be the UK’s only option and in these uncertain times British Banks and British based industries have been making provisions for an economy that is going to be so uncertain.

One of the industries that is going to be affected greatly by Brexit is the online gambling industry.

Online gambling makes up a big portion of the British economy with almost half of the population engaging in some type of gambling generating billions. Online gambling has made some companies like Bet365 (CEO Denis Coates) highly successful with the Sunday Times estimating that she alone paid £99 million in taxes to the UK in the 2017/18 financial year.

Naturally those pay by phone bill casino sites are all looking towards March 29thespecially as tariffs on profits are likely to increase, something that could break some smaller businesses and put others off basing themselves in the UK.

If the UK were to witness the disappearance of gambling operators who are currently based in the UK job losses would certainly occur and as the country is already feeling the effects of uncertainty as some manufacturers have already pulled out of the UK in favour of other countries with a more stable economy.

Not only is Britain waiting with baited breath but so is Gibraltar and the Isle of Man which have both enjoyed being members of the EU. Gibraltar especially has more than thirty online gambling operators making their base on the rock, taking advantage of the tax haven as well as having access to the single market of the European Community.

The thriving ex-pat community together with the majority of Gibraltarians voted to stay in the EU but they also voted to stay un British rule opposed to Spain. The animosity that exists between the UK and Spain with regard to Gibraltar is well documented and If free movement stopped as Spain is certainly going to tighten up their border controls, then job losses are sure to occur in Gibraltar as operators choose to move their bases elsewhere.

The closer we get to March 29ththe more tense the mood becomes, and perhaps even with an extension of the deadline date Teresa May is destine to be leader of a government which put the UK into economic turmoil.