Currently, the British government is in a head-spinning Parliamentary deadlock in their process to exit the European Union, and the uncertainty is impacting the economy and citizens alike. After the Brexit deadline passed on March 29th, the public has been left to ponder how the future relationship between the European Union and the United Kingdom will proceed, and industry experts will be trying to evaluate how it impacts gambling.
Not only is gambling a big business in the UK, but it is also a massive part of the economy of Gibraltar, a British overseas territory of the coast of Spain.
After the British people voted to leave the European Union in 2016, Gibraltar and its citizens have been left in the lurch about their future relationship to the United Kingdom and the European Union. The small island voted overwhelmingly to remain in the EU, and Spain has expressed some interest in taking control of the island, but this prospect is not popular amongst Gibraltarians.
According to The Guardian, 60% of all online bets are taken by gambling companies based in Gibraltar. Fortunately for these companies, Gibraltar has secured access to the British market and access to British financial services.
But Brexit uncertainty has still caused some British betting companies to move their operations overseas. Ladbrokes has said they will move some servers to Ireland to lessen the risk of Brexit.
Malta is also an increasingly popular country to move operations to over Gibraltar. Malta and Gibraltar will likely continue the fight for small gambling center, but Gibraltar may find it increasingly difficult to compete with countries in more stable political situations.