HBLB after Offshore Operators

This week, the House of Lords will debate the new British licensing and taxation law. If the suggested amendment gets approved in the future it will result in serious financial implications for companies that license in the UK. The amendment is pushed by Lord Gardiner, in an attempt to use government legislation to expand current horse racing levy to "offshore remote operators". The Horserace Betting Levy Board will profit from this with additional GBP 20 million a year. Operators wishing to gain access to British online customers will have to pay a 15 percent secondary tax. The Horserace Betting Levy Board will be swimming in cash this and next year due to voluntary payments from major British bookies. The estimated amount is somewhere around GBP 80.2 million.