does anyone know the answer to this? fill me in if so.
so there is concern in the media in the uk regarding gambling and it is a political issue. Generally the main media isn't focused on poker but fruit/slot machines in bookies, some media referring to them as crack cocaine of the gambling world where people can gamble literally hundreds of pounds a minute through there credit card etc on these machines in bookies.
the argument been that vulnerable people or gambling addicts get destroyed by these things and it has a damaging effect on society.
there has often been talk about outlawing these machines all together, well at first glance I couldn't care less I never go near them and I cant see any circumstances in which I would.
however this raised a concern for me if they ban these things could it spread to online poker?
they were talking about a betting cap limiting how much someone can bet in any given period this would destroy an income from online poker.
whilst not only capping how much success I could have eg stopping the higher stakes ever been available to me should I excel to that level it goes further. since 10% is an exceptional return if they limited the daily betting to £100 it would mean my daily income wouldn't grow beyond £10. currently in normal circumstances technically I stake several hundred $s every day, naturally as profitable sit and go player its the same money been repeatably staked. however technically its hundreds gambled daily.
so I don't just take this lightly I googled uk gambling
laws and politics for a bit.
towards the end of this year the plan is to change legislation so that offshore companies will have to apply for licencing to operate in the uk and pay taxes to the uk to have the right to open up to uk customers.
1. would this scare certain sites off? I doubt it would stop poker stars however things are done politically behind the scenes and the US is stubbon and has its grudge they could always talk the uk into refusing pokerstars
2. would this affect me? is the rake the sites charge the standard everywhere or do they charge different amounts of rake to people in differing countries as tax laws are different and therefore the sites operating costs will be different for various countries.
3. I also don't know how the bookies are been taxed is it on my stake or on there profit? in which case basically the uk would just get a proportion of my rake etc.
but how would that work? I mean in theory if I achieved super nova elite with the stellar program and the vip program the rake back equivalent would literally be 68%+ and that's assuming I use the ffps for only instant cash and not other things such as the concierge service etc. so would the site be taxed on the full rake in this scenario or on the amount after I got the rakeback?
I mean currently we can only deal with the legislation as it is due to come in since the poker sites
will face taxes they could have avoided before the fundamental question is will these additional costs be absorbed by the sites or will the sites pass it onto the players?
does every country get the same polayer reward program or is it different for certain countries?
does everyone pay the same registeration fee or does that vary? im pretty sure rake is same in for cash in every country not sure about sit and goes or tournaments.