In the UK, there isn’t a more polarising word than Brexit right now. It is nearly three years since 52% of the British public voted to leave the European Union and we are still no closer to knowing what the withdrawal agreement will be.
Unless Brexit is withdrawn and forgotten about completely, there will almost certainly be changes to the way companies do business in the UK, including online gambling operators.
In this blog post today, we will take a look at the effect Brexit could have on the UK online gambling industry and ask what impact Brexit might have on our beloved casino bonuses.
The Impact of Brexit on UK Online Gambling Industry
Of course, Brexit will have an of impact on the UK online gambling industry and many are predicting that there will be substantial changes.
For UK gaming businesses, Brexit is likely to impede their access to other European markets. These restrictions and the possible red tape are likely to result in a considerable downturn in the revenues generated by these companies.
Also, for software developers who are based in the UK, Brexit is a huge worry and many are already considering their options.
These companies may need to relocate and set up their operations elsewhere, which could mean interruptions in services and production. As a result, online gambling operations are likely to take a significant hit.
UK-based online gambling operators are concerned about their futures after Brexit and many are considering relocating at least some of their services.
However, relocating might not be quite so simple, with many countries stating they will not accept UK operators.
Still, other countries will be open to UK operators relocating to their shores considering the revenue such a move is likely to bring in.
GVC is one company which has announced their Brexit contingency plans. GVC are planning for their EU-focused divisions to begin operating under a Maltese Online Gambling Licence and parts of its server technology will be relocated to the Republic of Ireland.
GVC put it plainly with the following statement:
“For legal and regulatory reasons, the Group companies providing our gambling offering to customers in the EU need to be established and licensed in an EU member state.”
Still, it is worth noting that GVC also stated that their main headquarters will remain in Gibraltar.
Brexit and Bonuses: What Gives?
So, Brexit will almost certainly have an impact on the UK online gambling scene as a whole, but what effect will it have on bonuses?
Again, not easy to say.
If online gambling operators need to put considerable money and resources into altering their services and operations as a result of Brexit, which seems likely, this could impact on bonuses.
At the end of the day, bonuses generally offer good terms and odds for players. If online casinos are forced to invest in other areas of their business, bonuses might need to be scaled down.
With that being said, we think it would be a very unwise decision if online casinos significantly scaled down on bonuses.
Bonuses are one of the most loved parts of the whole online casino experience and for online casinos, there aren’t many better ways to attract players and to keep them playing.
If bonuses started to become sparse at a certain online casino and didn’t offer much value to players, chances are that the players would start shopping for new online casinos.
Simply put, online casinos would be playing a very dangerous game if they altered their bonus offerings to any significant degree.
The bottom line is that we cannot know for sure what impact Brexit will have on the industry and casino bonuses. Considering that a fully formulated and accepted Brexit withdrawal plan hasn’t even passed through parliament yet, making predictions is all the more difficult.
If and when a Brexit withdrawal agreement is passed through the UK parliament, we will have a clearer idea of what might happen.
If there is one thing which is almost a certainty it is that the UK will be leaving the European Union. Consequently, the UK online gambling industry will be affected in some way and this could well have an impact on casino bonuses.
The big question is, just how much of an impact Brexit will have on the online gambling industry.