How has Brexit changed the online casino industry?
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A lot of British people are invested in Online Casinos and Gambling. With Brexit, the Gabbling Industry will have its share of problems.
Gambling has always been in the news. The EU has kept an eye on the Gambling Industry using G gambling Licences. In 2014 UK passed the Act which made it compulsory for all the existing online gambling institutions to get a licence approved by the UK Gabbling commission. There is a chance that Brexit will force all G betting institutions in UK to renew their Licence with the commission, which will cause problems for Gamblers.
There is a chance that Brexit might affect Gibraltar's status as a gambling hub for the UK. Gibraltar has been a disputed land between Spain and the United Kingdom. Most online casino businesses call Gibraltar their HQ for operations. Almost 60% of the staff that work in Gibraltar lives in Spain.
Brexit will force all the existing online casino sites to obtain new licenses from UK Gambling Commission. Getting approval will take a long time. Many people may relocate to keep working in the industry once Gibraltar stops being the heaven for gambling companies. With many countries leaving the EU, the G gambling rules and regulations will differ.
