Licencing issue.


http://www.online-betting.me.uk/blo...g-business.html

Online betting site Pinnacle are set to become the latest operator to announce that they are ready to pull out of the British market. This is over the controversial Point of Consumption licensing regime installed by the British Government, where off-shore operators, as most online bookmakers are, suddenly become liable for heavy taxes.
Taxation is placed on any bet received from within the British Isles under the new law, which is supposed to level the playing field so that brick and mortar betting shops in Britain aren’t the only ones facing taxes. Most online bookmakers set up off-shore in places like Gibraltar and Malta to avoid British taxation
Pinnacle released as statement this week, with the Asian operator saying that it would be closing all accounts belonging to customers registered in Great Britain on 30 September – the day before the new licensing framework is due to go live.
“Due to imminent changes to British gambling licensing regulations, Pinnacle Sports will after September 30th, 2014, be unable to offer our services to any players resident in Great Britain,” a statement from the firm read.
“We thank all British players for betting with Pinnacle Sports, and should we obtain a British gambling licence in the future, we would be more than happy to accept your business.”
SBObet, 12Bet and Mansion have already announced that they making adjustments to what they are going to be offering to the British market, pulling select products before the Point of Consumption tax.
According to the Gambling Commission website, Pinnacle has made an application for an operating licence, however, due to the operator’s current Curacao-licensed status, it has been unable to apply for the transitional licences available to whitelisted licensed operators.