Independent bookmakers in the UK are a great choice for punters that enjoy more personalized service. They also typically offer better odds on a wide range of events.
UK independent bookies offer competitive odds on a variety of sporting events. They also offer a wide range of promotions and bonuses, including free bets and account insurance. Many of these operators are licensed by the UK Gambling Commission and offer safe and secure betting.
History
Gambling has been around as long as mankind can remember but bookmaking is a much newer concept. In the past, punters made wagers with one another in pubs and tea rooms across Britain but it wasn’t until 1961 when bookmakers became legalized to accept bets.
Victor Chandler was at the forefront of this move into the digital age and his wholesale move offshore to Gibraltar, thereby making his players’ bets tax-free, forced the UK government into adjusting betting taxes. In this way, the online era saw UK tax laws be reworked from ‘place of supply’ to point of consumption – meaning that anyone accepting bets from UK punters would be liable to pay UK betting taxes.
Despite this, many high street bookmakers continued to thrive by investing in their shops and offering extras like laying carpets, making the places more comfortable and providing a good choice of markets to bet on. They also diversified their offerings by offering football bets as well as horse and greyhound racing – a trend which has continued into the present day.
Taxes
Whether operating a slick online platform, a live betting shop or a spread betting operation, if you take bets from customers in the UK you must pay taxes. Those taxes can be as much as 15% of gross profits.
In 1996 punters began betting on the internet. This allowed small bookmakers to compete with the big boys and quickly the market was flooded with smaller betting sites.
Currently betting sites are taxed on their turnover but the Government is planning to move to a point of consumption levy that would see them charge 15% of their profits. This would affect online and remote operators in a similar way to high street bookmakers who pay general betting duty (GBD) on fixed odds bets placed with them at their premises or remotely by UK customers. This is charged on money received for bets less the amount paid out in winnings (‘gross profits’). Go to ‘Excise Notice 147a’ for additional regime information.
Convenience
Independent bookmakers in the UK are able to offer competitive odds on a variety of sports events. They also offer a wide range of promotions and bonuses, including free bets and acca insurance. Many of these operators are licensed by the UK Gambling Commission and offer a safe, secure betting experience.
Betting shops are legalized in the UK, and people can place bets around-the-clock, 365 days of the year. The industry contributes around PS30 billion a year to the economy of Great Britain.
Some independent bookmakers offer telephone betting, and this is a good option for punters who enjoy some interaction with their bookmaker. This type of service allows customers to get quicker responses and more personalized help. Some of these operators are also able to focus on certain niche markets, such as Welsh football. The majority of independent online bookmakers do not comply with bonus restrictions, and this can be beneficial for punters.
Markets
Most independent bookmakers are local to specific regions or countries and a number of them have made a name for themselves in the online betting space.
They can also offer better value across a wide range of markets than some of the bigger brands. They may even specialize in one particular market, such as eSports betting, but do an impressive job across ‘proper sports’ too.
Some of them have even made a successful move into telephone betting. But it’s a bitter pill to swallow when you consider that these bookmakers, as well as their high street competitors, contribute only 0.1% of the overall gambling levy, whilst the larger operators are expected to pay four times as much. This is a result of the government’s method of taxing betting. Hopefully, this will change in the future.