Lawyering in the Online Gambling Sector Part 2 - Non-legal Aspects of the In-house Work
Martin Lycka, Legal Counsel, Betfair Limited, UK
Being an in-house lawyer does not only require top class knowledge of a requisite number of different areas of law but also an in-depth understanding of the products sold by the business as well as non-legal elements that may affect its performance, in particular taxation. This is even more the case in the online gambling sector where competition is tough, regulation is very strict and taxation can seriously impact the future success of the business and its more innovative products.
This article will deal with some non-legal aspects of the work of in-house lawyers in the online gambling industry, focussing on the taxation of gambling products and the necessity of cooperating effectively with in-house and external tax advisers, to be able to advise on and deliver external messages about non-legal aspects of the business. It will also deal with the regulatory, tax and other issues associated with the operation of betting exchanges, one of the most innovative products offered across the global online gambling industry. It will highlight some of the challenges an in-house lawyer may face if his objective is to get the innovative products, which some people may find complex, or even controversial, albeit for no good reason, regulated in a new jurisdiction.
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