Great Britain has a long tradition when it comes to gambling on various sporting events and leads the world still in the provision of the best online gambling sites.
Although traditionally British bookmakers are often based in other countries for tax and legal reasons, the majority of sites are still unashamedly British and aimed at the audience in this country. This article is going to look at the best betting sites accepting GBP – although all sites do – and also methods of payment and the tax laws regarding winnings for people in Great Britain.
Best Great British Betting Sites & Bookmakers
The following is a list of the best online British betting sites and bookmakers:
Key Facts: Online Gambling In GB
- Real money online gambling legal with licensed operators.
- 18+ legal age for all gambling games (lottery 16+).
- UKGC governing body oversee industry regulations.
- Wide range of great sites and bonuses to choose from.
- Traditional home of sports betting and horse racing.
Great British Gambling Tax Laws
Since 2011 punters in the UK have not had to pay tax on any winnings that they gain through gambling and that remains the case to the present day. The government scrapped the previous duty that collected 6.75% from bookmakers – a tax that was passed on to customers by bookmakers through a 9% charge on winnings.
This means that any money that you make in the United Kingdom is 100% yours to keep as a punter.
However there is a 15% point of consumption place tax which operators must pay to the British government. This was brought about in 2014 in order to mitagate the tax lost when British based bookmakers moved their operators to tax havens (Malta, Gibraltar etc.) in order to avoid paying taxes in the UK.
Recommended Payment Methods
With online gambling being legal and regulated in Great Britain the choice of payment methods punters can use is vast. There are a couple of important points to consider though…
- Debit cards are the easiest and most continent way of moving money to and from your betting accounts.
- Credit cards were banned from online gambling transaction in the UK from April 2020 onwards.
- Neteller and Skirll offer extra protection and anonymity but most bookmakers void your bonus if you use these methods.
- Paypal remains a viable, bonus friendly option, at the majoirty of betting sites.
- Bank transfers are also a popular, fee free, way of depositing.