Once again Europe has shown that it is light years ahead of the United States in regulation of Internet gambling.
Plans are in the works in England to change the way wagering is taxed, and if things work out as planned it will help bring more jobs to Great Britain.
Online gambling companies have set up shop outside GB in order to take advantage of low tax rates elsewhere. But Britain is now putting together plans that would alter the tax policy and make it worthwhile for the companies to do business in England, providing needed jobs. Basically, taxes would be paid at what is called the “point of consumption”, in other words where the bettor is, rather than the point of supply, where the operator is. So a company based offshore would still be required to pay taxes to England, even if its operations are in Malta. And if there is less tax benefit to being in Malta, why not just set up shop in London? And hire British workers.
Obviously, all this is world-class level chess compared to the checkers now being played in the United States, where states are arguing about whether they can legally sell a lottery ticket online.
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