What you need to know about the UK’s online casino wagering system
Virtual gambling is thriving globally and the United Kingdom is by no means an exception to the rule. On the contrary, the UK is actually one of the biggest online casino markets thanks to its advanced providers and a professional wagering system. But how does this whole system function? Gamblers and casino operators should understand the peculiarities of the British gambling industry, so keep reading to learn more about it.
The role of the UK Gambling Commission
At the moment, there are roughly 200 commercial casino operators in Great Britain that are fully licensed by the UK Gambling Commission. The latter is tasked with regulating the entire gambling industry on a professional level while providing assistance to local authorities in this business. As for the role of the British online casinos, they have to pay some fairly important fees which are divided into three groups:
- Licensing fees
- Fee for use of UKGC’s software
- Administrative charges
The pay rate for these services varies depending on the type of gambling service provider (online casino, bookmaker, or bingo). But in general, providers can expect to pay about 5% of your total amount wagered.
Types of licenses issued by the Gambling Commission
In order to operate its online casino business in the United Kingdom, a company must possess one of three types of licenses:
- Class 4 Remote operating license for sports betting
- The remote operating license for casino games
- The remote operating license for bingo games
If a provider wants to offer casino and poker services along with sports betting, it needs to hold several types of licenses simultaneously. The UK Gambling Commission started issuing remote operating licenses for online casinos service providers in 2014.
As a rule, online casino providers have to pay standard VAT fees depending on their geographical location and business model. In the United Kingdom, gambling operators have to pay a percentage of their profits obtained from customers based in the country. At the same time, offshore companies are obliged to pay 15% on all gambling-related income (including winnings).
How does the British online casino wagering work?
Online casinos in the UK have their unique wagering requirements. You can find a casino with no wagering requirements, which means they don’t force players to spend their own money before withdrawing funds from personal accounts. But there are other options, too. Some online casinos impose wagering requirements of 50-60x, while other UK gambling companies allow players to collect their winnings after they’ve completed only 5x wagering requirements.
Virtual casino operators can set up these conditions because they use special software that calculates wagering requirements. This software determines the conditions of bets and their importance in the overall wagering system, so it’s crucial to pick an online casino with a reasonable wagering requirement ratio.
Who can participate in online casino wagering in the UK?
Players from Great Britain are not the only ones allowed to try their luck at online casinos. Foreigners can place bets, too. This basically means that you can play British casino games from any place on earth provided your home country enables access to the UK gambling sites.
The legal age for gambling is 18 years in most countries of the world, so players have to be adults in order to participate in online casino wagering services. As for most online casino operators that are based in the UK, they can set higher age limits. For example, the best online casinos usually allow players to register only if they are 21 years old. But this rule is also subject to individual decision-making. Some casinos want to grow their customer base, so they welcome all persons aged 18 or more.
The most popular online casino games in the UK
Online casinos typically offer gamblers more than 100 different types of casino games. Players can enjoy roulette, blackjack, baccarat, video poker, slot machines, and other games. You can choose between popular casino games on all devices: be it your smartphone or desktop computer. There are also casinos with mobile apps that make the gambling experience even more entertaining and user-friendly.
Online slots are by far the most popular type of online casino games in the UK. These account for an estimated 70% of online casino games, but other titles are popular as well. We are talking mainly about roulette, blackjack, baccarat, and video poker.
The best way to play casino games online
All online casinos in the UK have their own promo offers for new players who want to try casino games. You can get free spins, deposit bonuses of up to £500, or you can play roulette with zero stakes.
All casinos allow users to play casino games for free so that they can familiarize themselves with the game rules before placing real money bets. Trusted online casino operators provide their customers with welcome bonuses, which is another way to test your skills before investing real money.
The bottom line
All online casino markets are similar, but each country has a unique set of rules and regulations. We showed you how the UK’s wagering system works, but feel free to leave a comment if you have any questions – we would be glad to reply to you!
