Strict Regulations
The United Kingdom Gambling Commission has issued warnings ahead of the launch of the statutory levy. The commission has stated that any operators who do not comply with the levy and the new rules face having their license revoked.
The new levy, first announced in 2023, is scheduled to take effect on April 6, 2024, marking the start of the new financial year. The levy will replace the voluntary system that is currently in place.
Operators will be obliged to pay different rates depending on their GGY. The new level will be invoiced on an annual basis. It will range from 0.1%, mostly for land-based operators, up to 1.1% for online casinos.
In a statement, the UKGC said, “Payment of the statutory levy is a licence requirement. Therefore, non-payment, or late payment of the statutory levy, could result in operating licence revocation, unless the Gambling Commission is satisfied that this is due to administrative error.”
A Controversial Decision
The government has supported the introduction of the levy, which was first proposed in the White Paper in May 2023. It is estimated that the levy will raise £100 million in taxes.
The government has said that this will go towards supporting gambling harm research. It has also been met with praise from GambleAware, one of the country’s leading gambling support organisations.
However, there has been some pushback from some within the industry, arguing that the levy will damage smaller businesses and may push operators out of the UK market. There is also a concern that, if the levy’s funding is not used correctly, it could mess up the current system and push back years of hard work when it comes to gambling support.
