Online casinos that are currently based in the United Kingdom are required by law to pay a 15 percent tax on their gross profits. This kind of system has compelled other online casino operators to transfer their operations somewhere else, especially offshore. A few examples of companies who have made the move are William Hill and Ladbrokes, two of the most successful and well-known gambling and gaming operators in the UK industry, and global for that matter. Betfair believes that authorities look at onshore and offshore firms in the same way...and they shouldn’t. In fact, it is their opinion that these onshore companies should be given an incentive because they have decided to remain onshore, where almost 50 percent of their staff is presently working.

The chief executive officer at Betfair, David Yu, in an interview conducted by the UK Sunday Telegraph, commented that the company is grateful for the license granted to them in order to operate their online casinos within the United Kingdom. He said that they do not have any problem about paying taxes as long as there is some form of movement, but if no change occurs, Betfair would have to look at things in the long term, and make firm decisions based on what will ultimately do the online casino business more good. Being in the same predicament with other bookmakers that are based in Britain, Betfair has been involved in a struggle about the tax levy imposed on the company, which constitutes 10 percent of the company’s gross profits on UK’s horseracing.

Yu further went on to emphasize that they are proud to say that Betfair is making an important contribution to the UK through its taxes. The previous year, Betfair paid GBP 20 million in taxes from their online casino and other forms of gambling profits.

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