UKGC will restructure their gambling sites and Bitcoin casino license fees this year. The change will take effect on April 2017.
To address the concerns of some operators, the UKGC states that the license fee restructure is for the benefit a majority of license holders. Only large casinos will be the one to experience an increase in the license fee.
New license fee structure
The UKGC plans on lower the license fees for more than 1,900 of its license holders. On the other hand, 1000 licensed operators are only going to see a small decrease in their license fees or there are no changes on the fees. These casinos, including Bitcoin casinos such as NetEnt, might see a reduction of as small as two percent or a large 75% off of their license fees.
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Operators of bigger casinos will see a hike of 140% increase on their fees. These fees fixes to their gross gambling yield or GGY percentage. These percentages are usually within 0.05%-0.1%. One or more of the 75 operators could be paying an annual fee of more than £160.
New online casinos are going to enjoy the new UKGC license fee structure on April this year. They will experience a reduction of 25% on their first annual license fee. The discount could lead to an increase in new Bitcoin gambling sites or casinos that accepts different cryptocurrencies.
Business-to-Business or B2B companies are also going to benefit from the changes in license structure. In April, UKGC will release a new ‘game host’ license. Previously, B2B companies need to have two licenses for their business. This means they need to pay for the annual fees of both license. The ‘game host’ license removes this problem by making remote casinos and bingo licenses pay for only one license every year.
UKGC cost