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Tax on betting and gambling in the UK

The trend towards sports betting is unstoppable in Europe. Each year, more participants and providers are added. A nice side effect is that the range of bets and sports on offer is becoming more and more diverse. Although football is still the undisputed number one, tennis in particular is in the fast lane and now occupies second place ahead of basketball, American football and even Formula 1. The possibility of placing sports bets in Europe has not been available for very long. This has only been possible since 2011. One year later a betting tax was set to at least better regulate the new market. how this betting tax is regulated and how the supply is regulated is now explained.

The tax on sports betting

In July 2012, a new law came into force that imposes a five percent tax on bets. This explicitly applies to people who live in Europe. The state has recognized the opportunity after a partial opening of the market in the previous year. This means that sports betting has not been banned in Europe since then. The Maltese tax authorities benefit immensely from this. In the first eleven months of the year, more than 160 million euros were generated from this. In the meantime, the sum has more than doubled. Although the sum seems enormous, the efforts to regulate the mark a little better and more precisely are not really visible. Because sports betting is still possible in Europe today because it is no longer illegal due to the partial opening and is legal in the EU. But to remove all doubts – sports betting is absolutely legal in Europe . One makes neither with the participation, nor with the profit punishable. There is also no need to worry about tax evasion, as the five percent tax is already deducted on the website.

The legal basis of betting providers

Due to the lack of real legal regulations in Europe and the still divergent regulations in Europe, the majority of bookmakers have licenses for sports betting from the countries Curacao, Malta or Gibraltar. In these countries there are precise rules for sports betting. This guarantees customers security and enables suppliers to plan their business activities on this basis. In addition, customer ratings and recessions can be used to examine other factors. These include, for example, the security of deposits and withdrawals, the payment methods offered, the quality of the odds, the customer service and its competence or the service for placing bets itself.

Sports betting for tennis

As mentioned earlier, tennis is taking up an ever-increasing share of sports betting. There are several reasons for this. On the one hand, the sport itself is becoming more popular year after year. While footballers used to be the mascots for bookmakers, well-known tennis professionals are now also advertising sports betting. On the other hand, the range of bets and odds for football is more interesting and exciting than for other sports. This is probably due to the fact that the sport of betting is still on the rise and not, like King Football, already fully exploited. In addition, the sport’s way of playing keeps betting and watching exciting. The balls fly with the professionals at least with more than 90 miles over the field. The tournaments are held internationally and are broadly diversified. For example the Grand Slam, which is the win of the four most important tournaments, the Australian Open, the French Open, Wimbledon and the US Open. Of course, this is associated with very interesting and promising odds.

Identifying the right bookmaker

The question still arises where to place sports bets. Thanks to the Internet, the choice is enormous, but with a few tips and tricks, the right bookmaker is quickly found. By means of a function on the comparison pages, such as betting provider experiences.com, individual criteria can be selected, whereby the large offer is re-sorted. Then the first bookmakers can be looked at a little more closely. The aforementioned criteria, such as customer service or quotas, should also play a role in the decision. However, it is also possible to make several accounts with different bookmakers. This also has different advantages. On the one hand, there are the varying bonus payments on deposit and the premiums or special offers for long-term customers. On the other hand, the better odds for a betting option can be selected. These are not the same on every side, which makes it possible to make more profit with a provider for the same bet.

Placing Bets with Responsibility

With responsibility betting, is that possible? And what does that mean? On the one hand, this means that the betting tax also has positive aspects. On the one hand, this guarantees the customer that sports betting is fully legal because the German government levies taxes and thus benefits directly from them. These taxes are then used for general purposes, whereby the company also receives a portion of the cake. However, the usefulness of taxes does not need to be further explained here. There are, by the way, bookmakers who don’t levy taxes. These are also fully legal, but due to ever more far-reaching regulations, the number of these providers is decreasing year after year.

Another perspective on how sports betting is done with responsibility is to keep the percentage of luck as low as possible. As tennis becomes more and more popular, more and more information is collected and news is reported. On this basis it is possible to make forecasts for upcoming matches and tournaments, whereby a betting option is not estimated or guessed, but predicted. Sports betting with responsibility is only possible if sufficient information is analysed. These can be found in magazines, newspapers, on the Internet and on the pages of the bookmakers themselves.

There is also general information about betting and gambling. On the platforms of the bookmakers you will find, besides the sports news, information about betting. This includes tips and tricks for beginners, strategies and predictions from experienced bettors as well as advice and contacts for gambling addiction. If all these points are considered and implemented, nothing stands in the way of successful sports betting.

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