Guernsey gambling market overview tips, Channel Islands gaming, Table games guide
Guernsey Gambling Market Overview
29 July 2022
From a gambling business point of view, Guernsey offers some great advantages. This beautiful island offers players and casinos alike the most relaxed gaming experience. The best thing is that it is a low-tax jurisdiction that does not impose any additional taxes.
Guernsey Gambling Market Overview – Channel Islands
Players will not have to pay any additional charge for playing on the island. They are also not forced to pay other charges, such as taxes and fees, for the use of online gambling platforms and online casinos. Players will be able to enjoy casino online, slots, and poker games with an added advantage of gaming on the mobile.
With all this in mind, it is no doubt that Guernsey’s gaming and betting revenue increased 6.9 percent in the 12 months to mid-May, with online gambling being the fastest-growing segment. While the market for legal betting and gambling in Guernsey remains primarily restricted to off-shore markets, the expansion of online gambling will present challenges to the Island’s existing legal regime.
Nevertheless, gamblers can today make bets online and enjoy their favorite games in Guernsey online casinos that provide Casinority Guernsey. And this is where Casinority does its job well by sharing the most up-to-date casino information with a gambling audience.
What’s the Current Situation With Gambling in Guernsey?
A lack of oversight and regulation surrounding the growth of online gambling in the Islands, coupled with the limited number of operators offering such activities on the Island, has caused concern to the Island governments which are attempting to establish a sound regulatory regime. In 2016, the Guernsey government introduced The Guernsey Betting and Gaming (Amendment) Act 2016, which sought to amend the current framework for sports betting in the Islands. This legislation was criticized by some as lacking sufficient detail for operators to understand the rules under which they are operating.
The document included provisions for the creation of a licensing regime for gambling in Guernsey and a system of consumer protection. The Act also introduced a regime of regulatory fees to be paid by licensed gambling operators. Prior to the new legislation, there were 13 licensed gambling operators in Guernsey, with most of them operating under the jurisdiction of Jersey. With the new legislation, eight of those licensed operators were forced to close, while the government granted new licenses to two additional operators: Playtech and Galatians Holdings. The Isle of Man, which already has a licensed gambling operator, is permitted under the Act to continue to conduct its operations in Guernsey whilst providing the Island with a tax advantage.
In November 2017, new legislation was introduced to the Island s Parliament, the Licensing (Amendment) (Guernsey) Bill, which was amended in April to allow for the creation of a regulated market for online gambling. This market was regulated under a new online gaming regime called iGaming, with a licensing regime to be established by way of a government order. Despite many concerns expressed by some, the introduction of online gambling was welcomed by a number of industry commentators, who suggested that the introduction of a regulatory framework would provide a level playing field for the island.
Guernsey government officials have stated that they recognize the importance of a level playing field for operators, who have expressed their concerns about a lack of clarity on the regulations regarding the introduction of online gambling and the requirements that will be imposed on their operations. These concerns have prompted the Government to announce that they will be engaging in a licensing review of the iGaming regime. The introduction of online gambling, which will be regulated under the new iGaming regime, will present new challenges to the Island governments in establishing a sound regulatory framework for online gaming in the Islands.
Although there are currently no specific gambling regulations in place to govern online gaming activities, there are currently over 20,000 online gambling sites based outside of Guernsey, providing a thriving market for Island operators. The Island also faces restrictions from some of its major markets to allow for the expansion of online gaming. The restrictions faced by Guernsey to allow for the expansion of online gambling have caused concern amongst some politicians who are advocating a change in current regulatory and licensing frameworks.
What Are the Perspectives?
As well as the lack of oversight and the limited number of operators operating within the market, the new regime will also include new and more stringent consumer protection rules. So we can safely say that the online gambling market will only develop in the coming years.
As a result, gamblers can count on improved service like this brand, ironclad protection, and varied entertainment options very soon.
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