What Are the Taxes on Jackpot Winnings in UK?

What Are the Taxes on Jackpot Winnings in UK?

Currently, UK lotteries are very popular among local residents, some of whom take part in National Lottery and EuroMillions draws on a regular basis. However, are lottery winnings, including jackpot winnings, being taxed in the UK? The non-ministerial department of the UK Government Her Majesty’s Revenue and Customs (HMRC) does not regard lottery winnings as an income, which is the reason why the generated lottery winnings are not taxable up to date. However, lottery players in the UK need to bear in mind that they may face tax implications once…

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Latest Trends That Could Change the Global Gambling Market Forever

Latest Trends That Could Change the Global Gambling Market Forever

Global gambling market has always been very competitive and volatile one. Different aspects of technical progress, consumer gambling habit changes, new gambling solutions have raised both customer expectations and market requirements, urging gambling companies to develop in various directions, seeking to attract more users and enlarge their players bases. The expansion of the gambling industry is also happening at fast pace, revealing a great variety of options and trends to be followed. Some of them have been there for some time, while others are emerging. In any way, the constant…

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UKGC Aims to Raise Problem Gambling Awareness in Wales

UKGC Aims to Raise Problem Gambling Awareness in Wales

Yesterday, the major gambling regulatory body in the UK – the UK Gambling Commission (UKGC) – revealed that it would be hosting a reception at the Welsh Assembly along with the Directors of Public Protection Wales. The event was aimed at building more partnerships aimed at raising gambling addiction awareness in order to reduce negative effects that gambling could have on local customers. The event came in the light of some research data published by the UK Gambling Commission that showed that currently are about 27,000 Welsh gamblers who suffer…

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Australian Federal Court Returns Tabcorp-Tatts Merger to ACT for Further Consideration

Australian Federal Court Returns Tabcorp-Tatts Merger to ACT for Further Consideration

The Australian Federal Court upheld an appeal against the long-discussed merger between the local betting company Tabcorp Holdings and the lotteries operator Tatts Group. If successful, the deal, which was estimated to about AU$11 billion, would create a betting giant that would hold a massive share of the Australian gambling market. Now, the two companies’ plans for their multi-billion merger have suffered a serious blow, with the Federal Court rejecting the proposed deal. The two operators’ proposed deal is now uncertain, as the Court ruled in favour of the local…

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FOBTs Addiction Ruins UK Players Lives as Industry Awaits Government’s Review

FOBTs Addiction Ruins UK Players Lives as Industry Awaits Government’s Review

Fixed-odds betting terminals (FOBTs) – the machines that offer a large variety of casino games and some of the highest stakes in the industry – have been a controversial topic over the last few years. The machines have been put a lot of criticism since almost day one, with many Members of the Parliament, as well as charity organisations blaming them for the large stakes offered and their addictiveness which ended up in ruining people’s lives. According to some researchers, uninterrupted machine play that can be very dangerous for more…

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Hypocritical UK Gambling Operators Try to Win Government’s Favour

Hypocritical UK Gambling Operators Try to Win Government’s Favour

As reported by Casino Guardian, UK gambling operators, advertisers and broadcasting companies have offered the Government to take part in its addiction awareness campaign funding. The campaign is being coordinated by the Industry Group for Responsible Gambling (IGRG) and is worth about £8 million. At first, the willingness of betting companies to join the gambling addiction awareness campaign seemed like an act of nobility, but is it really so? Does the fact operators made their proposal at a moment when the Department for Digital, Culture, Media and Sport (DCMS) is…

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UK Gambling and Broadcasting Operators to Join Government’s £8-Million Addiction Awareness Campaign

UK Gambling and Broadcasting Operators to Join Government’s £8-Million Addiction Awareness Campaign

It seems that UK betting companies and broadcasting operators are becoming more engaged with problem gambling behaviour, as they have offered the country’s Government to fund an addiction awareness campaign that is worth £8 million. The proposal comes after the Labour Party warned that such a step would not come as an attempt to manipulate competent authorities and make them lift some of the restrictions on betting adverts. The Department for Digital, Culture, Media and Sport (DCMS) is expected to publish its review of the UK gambling industry in only…

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North Lanarkshire Players Spend Millions on FOBTs Every Year

North Lanarkshire Players Spend Millions on FOBTs Every Year

The Scottish National Party Member of the Parliament for Aidrie and Shotts Alexander Neil called for some measures to be taken in order for the Government to deal with the negative effects of fixed-odds betting terminals (FOBTs). As reported by Casino Guardian on multiple occasions, FOBTs have brought massive contradiction across the UK gambling industry, with the machines being blamed for massive amounts of money lost as well as for the increasing number of gambling addicts in the country. Campaign for Fairer Gambling Statistics Mr. Neil urged the authorities to…

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Major UK Gambling Operators Associated with Industry Hacker Attacks

Major UK Gambling Operators Associated with Industry Hacker Attacks

For a few years now, rumours that some UK gambling operators have been involved with illegal activities have been roaming across the industry. Considering the fact that online gambling is related to huge money transactions and enormous Internet traffic generated on a daily basis, makes such concerns even more disturbing, not to mention the fact that competent authorities seem to have not been aware of the problem, or even worse, to be keeping their eyes shut on certain acts of cybercrime. For quite some time, hackers have been hitting various…

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Wisconsin Sees New DFS Legislation Attempt

Wisconsin Sees New DFS Legislation Attempt

Daily Fantasy Sports (DFS) issues seem to be brought to the state of Wisconsin once again thanks to an initiative of the State Representative Tyler Vorpagel, E-Plymouth. The truth is that the status of daily fantasy sports in Wisconsin requires more clarity. Currently, the legality of DFS in the state is more of a matter of interpretation. As a matter of fact, the local players are given the opportunity to access daily fantasy sports such as DraftKings, but such operations have never been made officially legal within the state. As…

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