Back in March, we covered a story on the new UKGC bet ruling imposed on land-based betting establishments in Britain, entitled “What the 2019 UKGC Ruling Means for Bitcoin Gambling”. We had a look into the fact that betting shops across the UK would have to drop their maximum bet levels on terminals from £100 to £20, which was originally set to be implemented in April of this year but has been postponed till next year.
The predictions were that the industry could expect a great sum of job losses as a result of the legislation. Operators were simply not expected to be able to generate sufficient revenues to make it worth their while to keep their doors open.
While speculation was rife, and you and I forgot about the possible fallout in the past months, things just got real.
WILLIAM HILL TO CUT ITS LOSSES BEFORE THE ACCRUE
William Hill is Britain’s largest bookmaker, with walk-in betting centres all over the United Kingdom. It comes as no real surprise that they would feel the pinch of the new legislation, but we don’t think anybody anticipated the announcement that they made on the 4th of July.
The betting giant announced that they would we closing 700 UK betting shops this year. This turn of events is a strategy employed to curb potential losses that may lay in wait next year when the new laws are instituted. Though the UK economy would take a dip, due to thousands of potentially unemployed staff members and reduced taxes and overall revenues in the gambling industry, William Hill plans to strike before the iron gets hot.
This pre-emptive plan will not leave William Hill out in the cold though, as they are set to benefit greatly from Eldorado Resorts’ purchase and merger with Caesar Entertainment. As such, it is the United States that is set to benefit from the UK’s loss.
HOPE IN THE LAND OF THE FREE
The overturn of the US ban on sports betting could not have come at a better time for William Hill, who have partnered with a number of US affiliates, including New Jersey Monmouth Park, International Gaming Technology, as well as nearly a dozen Mississippi casinos and a tribal casino in Nevada.
The partnership that is set to establish them mightily in the US is the one with Eldorado Resorts, as they’re set to take the world by storm.
William Hill gained the right to be the exclusive sportsbook operator for Eldorado at all its owned properties across America. The agreement includes the opportunity to operate mobile sports betting in the States where Eldorado has licensing. These rights and privileges extend to all of Caesar’s Entertainment venues if Eldorado’s acquisition is successfully completed.
William Hill Casinos is providing real proof that the USA truly does offer the opportunities that many dream of. The land of the free is set to offer much hope to the brand, as a whole.
BITCOIN ONLINE CASINOS TRUMP THE INTRICASIES OF GOVERNMENT
With more strain posed upon the land-based casino and betting markets in the UK, land-based casinos may be set to up the house edge at their establishments, forcing more and more players to seek their betting entertainment online. But British Casinos are not all clear on this level either, with taxes set to climb from 15% to 21% for online casino vendors.
The UK Gambling Commission holds all of the sway in the UK, when it comes to gambling. All regulated casinos without a UKGC license are prohibited from offering gambling entertainment to UK citizens and can face heavy fines, especially from UK partnered jurisdictions, where trade agreements are in place.
For this very simple fact, Bitcoin casinos could see a massive upturn from British players. It is very difficult to restrict casinos that do not operate in fiat currency. One of the main tactics in cutting casinos out, is by restricting funds transfers to their establishments, by partnering with the banking system. Because Bitcoin is not regulated and Bitcoin casinos make use of BTC alone, it is very difficult for the UK Gambling Commission to place bans on crypto casinos.
Bitcoin casinos put the power in the hands of the individual, legitimately. The heavy-handedness of the UK government can now be lawfully circumvented.
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