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Gibraltar in Tax review

For many years, Gibraltar has provided online gambling services to people living in the UK. Now, however, it is troubled by the new gambling tax rules currently being considered in Britain. Gibraltar, which more than a dozen online gambling companies call home, state that they think the proposed 15 per cent tax implementation on anyone living in the UK and Gibraltar is unfair.

Tax on Online Gambling
The nation has long been autonomous where issues of monetary trade and industry matters are concerned, which also included the ability to establish their own independent tax system. Gibraltar’s gaming commissioner, Phil Brear, says that, “This new tax they’re proposing in Britain obviously defies common logic and goes against the best interests of e-commerce. He also stated that, “there’s a lot of words being thrown around about the United Kingdom being a fair and equal market. However, you can never even the odds between online trade and shops on the high street.”

Residents of Britain place roughly 60 per cent of their bets through websites based in Gibraltar. Right now, Gibraltar only pays a one per cent tax. The Cameron government’s 15 per cent tax is slated to become effective in December of next year, and it will also force any gaming companies located in Gibraltar to acquire a UK-issued license to run an online gambling business.

One Gibraltar online gambling operator, Ladbroke‘s Steve Buckanan, believes that instating this new and expensive tax could make a significant dent in the company’s ability to make a profit. He says, “This imposes an enormous and undesirable financial burden on our company and others.”

It isn’t just the cumbersome taxing of gambling itself that will impact the finances of Gibraltar gambling operators. It’s also the absence of taxes on other essential things for the online gambling industry, such as advertising.

The online betting company Betfair recently finished moving its services to Gibraltar in the hopes that they could save in the neighborhood of $30 million each year. Currently, Internet wagering makes up around 15 per cent of Gibraltar’s economy. The British government appears to be grasping for increased control over the UK online gambling industry. It may also hope to make a profit off of a ballooning industry that has started moving overseas to find shelter from the increased taxes.

A poker tale

Once upon a time, there was a man who desired to make fortunes of his own, in a unique way so that he could win over the girl of his dreams in the shortest time possible. You see, back then, men needed to be rich and wealthy in order to be worthy of marrying a girl whose father wanted only the best suitor for her. As he was strolling through the woods, he happened to come across three soldiers playing a game that from a distance required cards and gold coins. He watched from behind a tall oak tree and was intrigued by how the game was played. After a few rounds, the winner collected all the gold coins and strolled away, leaving the remaining players in a bit of a sulk. He walked over to the men and asked if they’d be willing to show him how the game is played so that he could help win their fortunes back. They agreed.

The man, whose name was Phillip, quickly learned how to play. When he was ready, he called for a secret tournament in which only the best poker players in the country could enter. True to his word, Phillip won back the money for the previously disgruntled men and won thousands of gold coins for himself. He was then able to ask for the hand of the girl he’d been pursuing, and they lived happily ever after.

The game turned out to be a variant of poker and is still played today.

What’s all the fuss about, Phil Ivey?

In case you don’t know who Phil Ivey is, he is one of the world’s modern day poker professionals, who could probably play the game with his eyes closed. He plays in all the major poker events around the world as well as prestigious poker tournaments in casinos everywhere. Ivey has had an interest in poker and has been playing the game since he was a youngster.

But our question is, why the fascination for the game Phil?

Because we’ll probably never get a direct answer to our question, we’ll have to make a few inferences of our own. Poker is the game that has always been played by most professionals and we’d have to ask why this is the case? Well, if you think about it, poker is where players probably have the most control over the game. By control we mean that players are able to manipulate the odds to a greater extent than any other table game. They’re able to manipulate the odds through carefully crafted strategies that have been practiced over decades.

The adrenaline rush experienced by these players can’t be matched in any other table game, once a player starts making his millions at the poker tables – it’s just a known fact. If you’ve never watched Phil Ivey play live or on YouTube, then do yourself a favour and go watch right now. We guarantee that you’ll be sitting on the edge of your seats.

It’s quite an entertaining experience to say the least.

The Prophecy of Poker

By Harry von Schlussel

Poker has always been one of the most popular gambling games in the world. It has been played by professional gamblers such as Stu Unger and Ken Uston in the past and a more recent poker professional nowadays is Phil Ivey.

But one thing that’s always plagued each and every casino game, no matter how popular, is whether these games will survive till the end of time. It’s believed that because poker has a solid fan base and that each and every online casino and land based casino offers the game that poker will never cease to exist. We also look at the ratings of each casino game and poker has always maintained a healthy following.

The game is also one for the slightly more intellectual player, one who is always looking for a challenge and much variance. As you most probably know, poker has many variants – each of which is extremely popular and played by millions all over the world. Of course, with the popularity of online gambling, which allows players to play poker at whatever time and at whatever location best suits them, the popularity of the game is constantly on the increase.

Ask yourself this: when you think of gambling, what is the first game that comes to mind? We did a survey and 7 out of 10 people said that poker was the very first gambling game that came to mind. This is a great example of how well-known and popular the game of poker is. This in itself is a good indication that poker is immortal.

Poker survey

As we mentioned in our previous blog post, we did a survey based on the popularity of poker and it showed that 7 out of 10 people reported that poker was the very first game that came to mind. The type of people we questioned were both male and female, half of which have gambled, whilst the other half have never even stepped into a casino. In both categories, the majority said poker is the first game they would play and the first game that came to mind when asked to write down what game comes to mind when they think of gambling.

The survey showed that only a minority of 3% over-all, mentioned other gambling games. Two out of the three said Blackjack, whilst the remaining one participant said they don’t know any gambling games apart from roulette.

Surveys and experimental research are always great ways to get as true as possible results and feedback on whichever variable is being tested. In our view, this survey showed that poker is by far the most popular casino game around. This does not mean that roulette, craps, blackjack, baccarat and slots are not popular casino games, it just means that the majority of people associate the word ‘gambling’ with poker or vise versa.

So there you have it, we hope our findings have given readers a little insight and perhaps encouraged all of you to perform your own research on the topic of gambling and gambling games.

How Poker got its name

Sure, we can google the origins of the game and find out how it’s believed poker ended up with that specific name, but that’s a little boring and we have our own ideas as to how the game got its name.

Poker is a card game that dates back to the 1500’s. Cards were invented by the Chinese, which means, any card game thus has some components of its origins in China. Poker is a strange name that in modern day society has rude and funny associations, but for the purpose of this blog post, we’re just going to stick to the game and not other highly publicised interpretations.

Here at prophegy, we believe that poker got its name from when it first began and people were less civil. The game was probably played by soldiers and noblemen who were old and wise. When someone cheated or got a little over-whelmed, the old men would poke the other players with their walking sticks or if it were soldiers playing, they’d poke opponents with the nozzles of their guns. Of course, all this would have been done in a humorous way, accompanied with the a little warning that would hopefully deter the cheater from cheating again or the stronger player who usually wins, to perhaps lose mental focus. In a way, poking other players could serve as an ancient mental strategy and it’s how we believe the game of poker got its name.