Gibraltar sees prediction markets as a substantial area of potential growth.
(AsiaGameHub) – Gibraltar is exploring a new path to secure growth as it navigates headwinds brought on by the UK’s decision to raise gambling taxes.
Nigel Feetham, the British Overseas Territory’s Minister for Justice, Trade and Industry, told parliament that the government had granted a license to a prediction markets firm, describing the sector as a “substantial area of potential growth” for Gibraltar.
Gibraltar’s government lobbied intensely against the UK’s choice to increase online gambling tax, arguing the move would directly hit tax revenues and negatively impact the island’s economy.
Nevertheless, UK Chancellor Rachel Reeves announced that remote gaming duty will nearly double to 40%, taking effect from today (1 April). A new 25% general betting duty rate for remote betting will also be rolled out starting April 2027.
Feetham stated: “Following the implementation of the recent UK gambling duty hikes, I have taken on more direct responsibilit…










