The United Kingdom’s gambling market is in good shape according to research done by IBISWorld. During the course of the past decade it took several factors into account. There’s been a tremendous deal of growth within the UK’s gambling market, despite the fact that it faced many upheavals the past 5 years.

Global Recession

The decline in gambling revenue is ascribed mainly to the global economic recession. Players based in the UK and abroad were compelled to wager less money at their favourite gambling sites. One of the factors that had a significant impact on gambling at land-based casinos was the ban of indoor smoking, which encouraged players to rather stay at home and wager at remote gambling sites.

Gambling Jurisdictions Relocation

Another reason why the UK’s gambling market lost out is because various UK-based internet casinos relocated to other gambling jurisdictions. Companies such as William Hill and Ladbrokes moved since they were not prepared to pay the steep online gambling taxes to the government.

IBISWorld predicts that the UK’s gambling market will recover within the next 5 years in spite of the trials and tribulations it experienced the last few year. As the global economy recovers residents from the UK will have more cash to spend on various forms of entertainment including online and gambling at land-casinos. New UK licensing laws will also help to fill state coffers, since more funds will be generated by the country’s domestic gaming market.

India is one of the world’s fastest emerging markets since its economy is growing at more than 6.5% per annum. The Times of India published an article recently where it stated that the Indian government should legalize internet gambling since it’s losing approximately $1.5 billion in taxable revenues per year.

The newspaper article points out that a recent study indicated that India’s internet gambling market could be worth as much as a massive $5 billion. If one takes the country’s average tax rate into account with regard to internet gambling, the study indicates that as much as $1.5 billion in tax revenue could be added to the government’s coffers each year.

The report said, “Despite a booming middle class and a rapidly expanding internet user base, only the state of Sikkim has made any meaningful efforts to regulate online gambling in India,”. “On a national level, there seems to be little desire to regulate this lucrative market – even though an ever-increasing number of Indians gamble online.”

The popularity of online gambling is growing by the day in India, this is because India’s middle clash is becoming more affluent and more and more people have access to the Internet. With a total population of more than 1.1 billion people the potential internet gambling has is truly astronomical.

The study also indicated that should online gambling be regulated it will have a positive effect on the country’s economy such as job creation and added tax revenue.

Bulgaria is one of many European countries that’s beginning to regulate and legalize internet gambling. However, it’s concerned that its current tax rate might discourage internet casinos from investing and operating in the country. Hence the reason it decided to review its current online gambling tax rate on 1 June and might even drop it by 50%.

Bulgaria Tax Rate Revised

A representative for the Citizens for European Development of Bulgaria, issued a statement confirming that the tax imposed on internet gambling operators will be cut from 15% to a more amicable figure of 6 to 8%. The rest of the European Union welcomed Bulgaria’s reconsideration and said that it’s encouraging to see that there are countries within the EU that abide by its rules and regulations.

On of the reasons why Bulgaria had to revise its present tax regime is because an unnamed source from the Parliamentary Budget and Finance Committee said, “…no foreign operator would come to Bulgaria, because the taxation would be very high.”

Chairman of the parliamentary budget commission, Menda Stoyanova predicted that the tax rate would be dropped on 1 July, 2012. The good news is that finance minister Simeon Djankov agreed, the exact tax rate percentage has not been decided yet.

Realtime Gaming (RTG) software has just released a new internet slot game titled “Loch Ness Loot”. It is 5-reel, 25-payline video slot. It could now be played at all RTG internet casinos. Loch Ness is a lake in Scotland and approximately 25 miles long. Over the years there has been many sightings of the alleged “Nessie” or the infamous Loch Ness monster.

Loch Ness Loot Slots

The theme of the slot game is about the Loch Ness monster. It features special symbols such as as the scatter symbol and Nessie. Nessie  is the wild symbol and it replaces all symbols including scattered Treasures, as well as free spins and two jackpots – Minor and Major.  Additional symbols showcased on the reels are Lochie, a Fisherman, Newspaper, Boat, a Camera, Poloroids and Bags of Loot.

Free Spins

If there are 3 or more Bags of Loot Free Spins will be awarded from left to right on successive reels. Players will be awarded eight free games with a 2 times multiplier. In the reels of the free spins should Lochie appear, it will expand to fill the reel entirely! The good news is that the Free Spins could be retriggered.

A Win-Win feature as well as a Minor and a Major Jackpot are available in loch Ness Loot. You’ll will be awarded a bet multiplier upon completion of your free spins, on condition a certain amount has not been won. The total amount you’ve wagered will be added to the multiplier enabling you to add it to the total won from the free spins. To play this new slot game we recommend Sloto’ Cash Casino. Please gamble responsibly and always read the terms and conditions of the casino first.

It so happens that a high roller comes along and takes the art of online gambling to a completely new level. Rumor has it that an Asian player recently wagered a massive $20 million over a period of one month at an internet casino. The casino games he played were blackjack and craps.

We know for a fact that these games especially craps are very popular with Asian players and one of the most played games at Macau and Las Vegas Casinos. The bets he made on these games must have been astronomical to have lost… $20 million!

The casino where he lost the cash has not issued a statement as yet and most probably never will. Apparently this person is one of the richest men in Asia. If he gambled via a portal casino some very fortunate affiliate is smiling all the way to the bank. We don’t think we’ll ever know who the player nor the casino is, because of the confidentiality agreement in place between the two parties. To the best of our knowledge this is by light years the highest amount ever lost and wagered at any online casino.

If you have any information with regard to the above we’d like hear from you.

We also did an article more than a year ago about high-roller who lost a massive $100 million at a casino in Singapore. Coincidentally this person is also one of the richest men in Asia. It goes without saying that Asian gamblers don’t muck around when it comes to gambling be it at land-based or online casinos.

Here’s the article: http://www.cassaon-casino.com/blog/online-casino-news/singapore-businessman-loses-100-million-at-local-casinos