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UK – Gibraltar exodus could be more damaging than Brexit

By - 24 June 2016

The UK’s EU referendum has left the bookmaking industry scrambling for a position—but Better Collective, the world’s leading affiliate in online gaming, thinks that the industry will soon recover from the shock Brexit result.

However, those operating in Gibraltar have huge headaches up ahead as they attempt to shore up their activities in mainland Europe.
Industry expert Michal Kopec, Senior Business Manager for Better Collective, commented:“Bookmakers and their suppliers are going to feel the pinch almost instantly, as many operate across the EU where prices for services will be hit by the poor pound.

“Income for many international affiliates that are rooted in the currency are going to be hit by the payments they’re taking in GBP, with many based in countries such as Denmark, Malta and Germany. This will be a huge issue in the short term, and it’ll take robust planning to weather the storm and emerge on the other side.
“On the regulatory front, bookmakers and affiliates shouldn’t be affected for now, as the Gambling Act regime is a stable one, with many organisations well briefed and prepared for any potential changes.”

“Gibraltar based operators will suddenly find that they don’t have an EU license, and it remains to be seen whether they’ll struggle to operate in major regulated EU territories such as Germany.
“It can also affect those based in Gibraltar but with operations or servers based in the EU, which means that bookmakers and their suppliers could soon be packing their bags – with Malta the likely destination.”

“Football is such a huge betting sport, but the Brexit could cause some pretty significant shockwaves across the Premier League. Big name European footballers – whether it’s Paul Pogba, Robert Lewandowski or Zlatan Ibrahimovic – might not find the rigmarole of securing a visa to play in the UK such an attractive option, and there’s also the possibility of lawmakers limiting the number of overseas players in each team.

“It could mean the league lessens its appeal, prompting bookmakers, shirt sponsors, players and more to look instead to La Liga or Bundesliga.”

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