Mansion Poker, which had been offering online poker services to UK residents from Gibraltar, has withdrawn from the UK online gaming market. Now that the UK is going to implement its new online gaming laws from October 1, a number of online gaming operators are planning to withdraw from the market. Mansion Poker has turned out to be the first one to do so. This is because the new laws require operators to apply for an online gambling license in the UK and pay 15 percent on gross profits obtained from their UK customers as taxes to the government.
Mansion Group’s UK customers have all received emails informing them that Mansion Poker will no longer serve UK players and urging them to withdraw their money at the earliest possible. Mansion Poker is one of the skins on the iPoker Network.
The email also advises UK players to register at Titanbet Poker, which offers a new player cash match deposit bonus of 200% up to £1,200. Loyalty points earned at Mansion Poker will be transferred to players’ Titanbet Poker accounts once players register.
Mansion Poker’s email says, “After you have created your account, please contact Titanbet Poker support. The new room will match your Points and VIP level from Mansion Poker so that you can get a head start in your poker play.”
Many more operators are expected to withdraw from the UK online gaming market soon. Simultaneously, many of them will choose to apply for a UK gaming license instead of quitting the market completely. The UK online gaming market is extremely lucrative, worth around $4.26 billion in 2013.
Kaycee James of Pokersites.com has supplied an explanation for Mansion Poker’s withdrawal from the UK. James says that, although the UK online gaming market is very lucrative, “it may simply not be worth it” for operators such as Mansion. Many years ago, Mansion sponsored Tottenham Hotspur, but was unable to penetrate deeply into the market. Owing to this, most of its customers are from mainland Europe.
UK’s newly amended regulatory and licensing laws for online gambling are expected to draw additional revenue to the country’s coffers. The laws are also expected to provide a solution to various problems presented by online gaming companies that operate in unregulated markets as a UK online gambling license will be granted only to operators that get not over 3 percent of their revenues from jurisdictions that have not regulated online gambling.