Big things are happening in the world of online gaming, and it may mean a serious disadvantage for players. The Remote Gaming Duty has been putting the final touches on new taxation reforms, which will directly affect freeplays and no deposit bonuses offered by all online gambling sites. The changes were originally scheduled to go into effect on August 1st, but have since been delayed by the General Election until further notice.
Don’t get too excited. The delay is not an indication that the changes will fall by the wayside. In fact, arrangements have already been made so that any accumulated taxes on such freeplays or bonuses from August 1st and beyond, will simply be backdated, and become valid once the reforms have officially been passed.
Let’s backtrack a little bit. You’re probably wondering exactly what this means for you as a player. In a nutshell, under the reforms, the first time in which a freeplay bonus has been put into use by a player, it is deemed taxable, along with any wins accrued, much like real cash play. As a result of this new tax coming into play, you can expect to see a decreased offering of no deposit bonuses from your favorite online bingo sites and casinos, and gaming developer, Cozy Games, has already publicly locked in to this method of action.
If you’re a fan of Cozy Games sites, then you’re probably used to starting off your gaming experience with a no deposit bonus. In light of the new tax, the brand will be introducing a free bingo offer, with no deposit required, and exclusive bingo bonuses awarded as prizes.
Don’t get too excited. The delay is not an indication that the changes will fall by the wayside. In fact, arrangements have already been made so that any accumulated taxes on such freeplays or bonuses from August 1st and beyond, will simply be backdated, and become valid once the reforms have officially been passed.
Let’s backtrack a little bit. You’re probably wondering exactly what this means for you as a player. In a nutshell, under the reforms, the first time in which a freeplay bonus has been put into use by a player, it is deemed taxable, along with any wins accrued, much like real cash play. As a result of this new tax coming into play, you can expect to see a decreased offering of no deposit bonuses from your favorite online bingo sites and casinos, and gaming developer, Cozy Games, has already publicly locked in to this method of action.
If you’re a fan of Cozy Games sites, then you’re probably used to starting off your gaming experience with a no deposit bonus. In light of the new tax, the brand will be introducing a free bingo offer, with no deposit required, and exclusive bingo bonuses awarded as prizes.
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