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Threat of Hard Brexit Looms Over Gambling Industry

Irving Hayes - 24 Jan 2019

BrexitEngland’s Theresa May drives a hard bargain; it’s true. Brexit has taught us this. But many forget that Brexit has, up until now at least, been hanging in the balance of probabilities. A bit like the knowledge that we’re all going to die one day – a reality no one wants to face right now, because to us all, it’s just a vague future prospect.

But, much like expiring, Brexit is a cold and hard reality that cannot be ignored. And even more alarmingly, it may happen sooner than we had hoped. March 29 is D-Day, or B-day, if you will, and this is the date that has been set for Britain finally leaving the cosy, if smothering, arms of the European Union.

Gambling Industry To Bear The Brunt

Yes, it’s true; it may very well end up being for the best. But the reality is that the positive after-effects of the ultimate independence may only start to show years from now. Even more than an entire generation into the future. Every last industry in the United Kingdom will be affected, and the gambling industry will receive no pardon.

And really, the British are a gambling people. So much so that large segments of the economy, and especially worker’s class employment numbers have now come to rely on the industry for its daily bread and butter. Bread and butter worth more than £15 billion in total income, to date.

Bigger Than Britain

The worst part is, it won’t just be Britain that will feel the effects of the big exit. Many outside jurisdictions reside under the control of the UK, and Brexit will affect these as well. No fewer than 12 external territories fall within the limits of the UK’s jurisdiction, and 6 more serve exclusively as online gambling regulatory authorities.

It appears that Brexit is a party that is much bigger than what most people think; and all of the UK and all its surrounding peoples are invited! Of the 6 regulatory authorities, industry experts have suggested that Gibraltar and the Isle of Man will in all likelihood be hardest hit by the changes.

60% of Gibraltar’s gambling industry worker-force reside in Spain, and commute on a regular basis. In the event that a hard Brexit does take place, and this seems to be a strong possibility, those workers will no longer be permitted to commute free and unhindered, but they will in effect find themselves living in a world that quite frankly no longer “gets along” with the one in which they work.