UK sets up bet limits, Curaçao reforms gambling sector, and Colombia imposes deposit tax

Summary

In this video, Vasili from Greator Academy discusses the latest news in the gambling industry, including significant regulatory updates. The UK Gambling Commission will introduce new regulations in October 2025, requiring operators to allow players to set financial limits and review their transaction data. The EU has removed Curacao from its list of 'gray tax jurisdictions,' while illegal gambling continues to rise in Europe. Curacao introduces tighter responsible gaming rules. Additionally, Colombia's President Petro has imposed a 19% VAT on player deposits. These developments highlight the evolving landscape of global gambling regulations.

Takeaways

• 😀 The UK Gambling Commission (UKGC) is introducing new regulations to enhance user protection, requiring players to set a financial limit before making their first deposit, effective October 31, 2025.
• 😀 Licensed operators in the UK will also need to notify players to review their financial limits and analyze transactions over a six-month period.
• 😀 A mandatory statutory levy will be introduced for operators, ranging from 0.1% to 1.1% of Gross Gambling Yield (GGY), with the levy expected to take effect on April 6, 2026.
• 😀 The UK online gambling market continues to grow, with GGY reaching £1.5 billion in Q4 2024, marking a 21% year-on-year increase.
• 😀 The European Union has removed Curaçao from its list of “gray” tax jurisdictions, indicating that the country has successfully implemented tax reforms and now complies with EU standards.
• 😀 The illegal gambling market in the European Union continues to grow, with unlicensed casinos earning €32 billion in the last six months, three times more than licensed competitors.
• 😀 The Curaçao Gambling Authority has introduced new regulations focusing on responsible gaming, including player document verification, account blocking options, and monitoring spending and playing time.
• 😀 New advertising standards in Curaçao prohibit marketing targeting minors and vulnerable groups, and affiliates must comply with responsible gambling principles.
• 😀 Colombia's President Gustavo Petro imposed a 19% value-added tax (VAT) on player deposits following a state of emergency declaration, which will be reviewed by the Constitutional Court for its constitutionality.
• 😀 If the VAT is approved, it will remain in effect until the end of 2025, though there are concerns about the potential abuse of the emergency public finance mechanism used to impose it.

Q & A

What are the key changes announced by the UK Gambling Commission (UKGC) for the gambling industry?

The UK Gambling Commission has announced new regulations set to take effect on October 31, 2025, which include requiring licensed operators to implement financial limits for players before their initial deposit and notifying players to review their limits and transactions after six months. Additionally, a new statutory levy ranging from 0.1% to 1.1% of Gross Gaming Yield (GGY) will be introduced, depending on the gambling sector, expected to take effect on April 6, 2026.

What is the significance of the new statutory levy in the UK gambling industry?

The statutory levy will be implemented to enhance regulatory oversight and is expected to raise funds to promote responsible gambling initiatives. The levy will range from 0.1% to 1.1% of GGY, depending on factors like the gambling sector and product risk profiles. It will come into effect on April 6, 2026.

How has the online gambling market in the UK performed recently?

The UK online gambling market continues to expand, with Gross Gaming Yield (GGY) reaching 1.5 billion pounds in Q4 of 2024, reflecting a 21% year-on-year increase.

What tax-related update has the European Union made regarding Curaçao?

The European Union has removed Curaçao from its list of 'gray' tax jurisdictions after the country successfully implemented tax reforms. This means Curaçao now complies with EU standards and will no longer be under enhanced scrutiny for tax issues.

What is the impact of the EU's decision to remove Curaçao from the gray list?

By removing Curaçao from the gray list, the EU has recognized that the country now adheres to its tax standards. This will likely improve Curaçao's reputation and regulatory standing within the global gambling market.

What is the current situation regarding illegal gambling in the European Union?

The illegal gambling market in the EU continues to grow, with unlicensed casinos generating 32 billion EUR in revenue in the last six months, which is three times higher than the revenue of licensed casinos.

What new regulations have been introduced in Curaçao to address responsible gambling?

Curaçao has introduced new regulations requiring operators to verify documents during the registration process, provide players with the option to block their accounts for various periods, and implement systems to monitor player activity, including time and spending. The regulations also tighten advertising standards, prohibiting marketing targeting minors or vulnerable groups.

What deadline has been set for Curaçao's operators to comply with the new responsible gambling regulations?

Operators in Curaçao are encouraged to adapt to the new responsible gambling regulations by March 5, 2025, which is the end of the discussion period for these changes.

What recent tax decision did the Colombian president make regarding gambling?

On February 14, Colombian President Gustavo Petro announced a 19% VAT on player deposits in response to ongoing violence in the Catatumbo region. This tax decision is set to be reviewed by the Colombian Constitutional Court, and if upheld, will remain in effect until the end of 2025.

What is the potential impact of Colombia's new gambling tax on the industry?

The imposition of the 19% VAT on player deposits in Colombia could increase operational costs for gambling operators and affect player behavior. The tax is part of a broader response to local violence but is still pending constitutional approval, meaning it may not be permanent.