The U.K recently announced that it would soon roll out a new gambling (licensing and advertising) bill that will require all online gambling companies that operate in the U.K to apply for a license. Those companies that are granted licenses will then have to pay a 15 percent point of consumption tax if they want to operate there sites in the U.K.
These sudden changes and high tax laws have not gone down well with a number of online gambling companies who feel they are not being treated fair. The Gibraltar Betting and Gaming Association (GBGA) has filed a lawsuit against the gambling (licensing and advertising) act on behalf of the 20 members that it represents.
The case is currently being heard by the higher courts in the U.K but most of the online gambling companies do not believe that the U.K government will change its views.
One of these companies is Mansion Poker. The company released a statement informing players that it would officially wind up operations in the U.K from the 15th of September.
Mansion poker informed its players that the company was withdrawing from the U.K due to the new laws that will soon be enforced and requested all players to withdraw their cash deposits before the 15th of September.
Mansion poker players in the U.K have the option of maintain their Mansion Poker VIP level as well as transferring all of their player points by migrating to Titanbet Poker. Players who do so will also be provided with a huge first deposit bonus as a reward for their loyalty.
Mansion poker users will have to create a new user account at Titanbet.co.uk. Players can expect similar software features, a user friendly interface and a 200% first deposit bonus that could be as much as £1,200. After creating a new account, Mansion poker players are advised to contact Titanbet’s customer support staff who will then assist in transferring VIP level status and points from the Mansion poker database.
Poker analysts believe that Mansion poker could be the first of many online gambling companies to move out of the United Kingdom. Other companies that could soon follow suit include French based providers PokerStars.fr and Winamax who are licensed in France but also operate in the UK. Under the new tax laws, both these companies will have to pay double tax and will significantly diminish profit margins. However, if the GBGA manages to win its case, Mansion poker could regret its decision to be the first company to exit the UK.