Mansion Poker Abandons UK iGaming Market

Ahead of the UK’s new online gambling legislation due to be implemented on October 1st, Mansion Poker has become the first main operator to withdraw from the country’s online gambling market. Up until now the company had offered its product in the UK from its Gibraltar-base but under the new laws online gambling operators are required to apply for a UK license and subsequently pay 15% tax on any gross profits derived from UK gamblers.
As a result, the Mansion Group has now sent out e-mails to its UK customers informing them of their decision and advising them to withdraw all their funds from their Mansion Poker accounts. Mansion Poker is currently hosted on the UK’s iPoker network along with Winner and Titan, and in the e-mail the company recommended players open new accounts with Titanbet Poker, where players can expect to receive a 200% first deposit bonus up to £1,200. In addition, Titanbet Poker has made a commitment to safeguard its new customers’ Mansion Poker player points, with the e-mail stating:
“After you have created your account, please contact Titanbet Poker support. The new room will match your Points and VIP level from Mansion Poker so that you can get a head start in your poker play.”
While Mansion Poker is the first high-profile operator to exit the UK’s iGaming market, the next couple of weeks is expected to see many dozen more follow suit. Nevertheless, many more will apply for licenses rather than abandon the country’s lucrative market worth
£2.5 billion ($4.26bn) in 2013. Offering an explanation behind Mansion Poker’s exit, Kaycee James from pokersites.com, commented:
“The UK market is highly lucrative, and most major online gambling operators are expected to stay, but for some, such as Mansion, it may simply not be worth it. Mansion flirted with the UK several years ago when it was the main sponsor of Premiership soccer team Tottenham Hotspur, but it failed to crack the market in a significant way, and the large part of its customer base has always been based in mainland Europe.”
As well as the amended licensing and regulatory laws bringing in extra revenue for the UK government, the Gambling Commission’s new regime will also help tackle problems posed by ‘grey market’ operators, as companies will only be granted a UK licence if no more than 3% of their iGaming revenues are derived from unregulated markets.