Britain Opens Doors to Online Gambling Sites

Britain has passed new legislation that will open the doors for more online gambling sites.

Britain has prepared the initial phase for online gambling sites that will allow the players to place wages via the net on soccer matches, horse racing, winners in reality TV programs and awards night.

The new online sites will be legally operated by sports bookies, Ladbrokes and William Hill.

Betfair, Sportingbet and UKbetting are also taking bets on their online game sites with fifteen percent of their gross income will go to taxes.

Since 2004, the tax revenues have reached more than two billion dollars for the treasury.

The new gambling sites will offer new traditional games such as roulette, blackjack and poker. Britons are already waging millions playing online but the companies offering them are offshore companies based in Costa Rica and the Channel Islands.

The British government is hoping to lure more offshore companies to boost gambling revenues.

New York-based consultancy, Christiansen Capital Advisors announced that forty billion dollars has been wagered by Britons last year.

The regulated gambling industry has attracted the world's three leading gambling sites like Partygaming that have join the London Stock Exchange in billion-dollar listing.

The Partygaming revenues of thirty million dollars in 2002 had soared to over nine hundred seventy eight million last year.