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Internet Bingo Not Taxed-Yet!

Posted on March 24 by Bingo Surfer in bingo No Comments
Home» bingo » Internet Bingo Not Taxed-Yet!

Internet Bingo Not Taxed-Yet!

A few years ago it seemed the UK government set out to destroy the land based bingo industry. First there was the passage of the national smoking ban which banned smoking in any enclosed place including bingo clubs. Since about 63% of all bingo players smoke the result was predictable; attendance at bingo games fell dramatically and many bingo clubs closed their doors and hundreds of employees found themselves without employment. To add to the industry’s woes the government added a VAT tax raising the tax rates for bingo clubs to 23% further crippling the already struggling industry. Like most businesses bingo halls pay corporation taxes and a 15% VAT tax. Bingo clubs were also saddled with an additional tax effectively raising the tax rate for bingo halls to 23%. Some bingo halls paid as much as 30% of their income in taxes.

Bingo is the only form of gambling taxed at higher rates and bingo club operators are not pleased. The government did reduce taxes last year, but not enough to make a difference. Prime Minister Darling finally removed some of the taxes by dropping the VAT tax on gambling. It has been estimated that this move will save the gambling industry about 50 million pounds a year. Like most governments around the world what the administration gives with one hand they take away with the other and to compensate for taking away the VAT tax on bingo the government added what some call a ‘yucky profits tax’ leaving the rate of taxation for bingo halls essentially the same.

Both of these policies have sent thousands of UK bingo players online. Internet bingo has proved a popular substitute for live land based bingo. In fact the online bingo industry has grown so fast that now over 250 online bingo providers are competing for players. For many players bingo has been a part of their lives since childhood and they are reluctant to do without their favorite game. Many new websites offer free bingo for real cash prizes and most pay sites offer free bingo as an incentive for new players to sign up. Online bingo operators are not subject to the high rates of taxation that their land based counterparts are and this enables them to provide players with a wide variety of perks and benefits. Many believe that it is only a matter of time before the government tries to tax online bingo. In the meantime players are having a great time playing bingo on the internet, tax free!

By Anthony Wayne
http://www.bingointernet.org 2009 All rights Reserved.

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Did you know that …

... there are two types of bingo played around the world?

North America plays 75-ball bingo on a 5x5 card with the centre square usually marked 'free'. In the UK, parts of Europe, Australia and parts of South America they play a 90-ball game, marked on a 9x3 card. Both types of bingo are prominent online.

Unlike balls used in regular bingo halls, online bingo sites use a random number generator. The online bingo play works almost exactly like playing online poker or online casino games with everything being virtual. Most bingo halls also offer links to online poker and casino offerings. One notable feature of online bingo is the chat functionality that gives the opportunity to interact with other players.

Useful Tips

If you are going to try online bingo for the first time look for the best no deposit bingo and free bingo sites. Experience the game with the calm deriving from the awareness that you are not risking your own money, nevertheless you can win some good bucks.

Progressive jackpot bingo games offer high value cash prizes. The jackpot is accumulated over a period of time, often taken from payments made to play smaller games. Usually as each new card pattern emerges, the pattern will have a number defining the amount of calls needed to claim the Jackpot. If players obtain a Bingo in this amount of calls or less then they will win the Progressive Jackpot. But rules are different for the different online bingo halls, so check before playing.

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